Trust Asset Management LLC Takes Position in VeriSign, Inc. (NASDAQ:VRSN)

Trust Asset Management LLC acquired a new position in VeriSign, Inc. (NASDAQ:VRSN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,054 shares of the information services provider’s stock, valued at approximately $200,000.

A number of other hedge funds also recently bought and sold shares of VRSN. Blue Trust Inc. grew its stake in shares of VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. grew its position in VeriSign by 117.2% during the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after buying an additional 109 shares during the period. Rothschild Investment LLC bought a new stake in VeriSign during the second quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in VeriSign during the second quarter valued at approximately $39,000. Finally, Concord Wealth Partners raised its position in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total value of $233,320.00. Following the completion of the sale, the executive vice president now owns 33,593 shares in the company, valued at approximately $6,382,670. This represents a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.84% of the stock is currently owned by insiders.

VeriSign Stock Performance

Shares of VRSN stock traded up $2.77 during mid-day trading on Monday, reaching $183.54. 13,020 shares of the company’s stock traded hands, compared to its average volume of 657,493. The firm has a market capitalization of $17.64 billion, a PE ratio of 21.02 and a beta of 0.91. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91. The firm has a 50 day moving average price of $183.84 and a two-hundred day moving average price of $180.09.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The business had revenue of $390.60 million during the quarter, compared to analyst estimates of $390.19 million. During the same quarter in the previous year, the company posted $1.83 earnings per share. VeriSign’s revenue for the quarter was up 3.8% on a year-over-year basis.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.