Strategic Global Advisors LLC acquired a new stake in Verisign, Inc. (NASDAQ:VRSN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,641 shares of the information services provider’s stock, valued at approximately $552,000.
Other large investors also recently modified their holdings of the company. Liberty Wealth Management LLC purchased a new stake in shares of Verisign during the second quarter worth about $25,000. Cornerstone Advisors Inc. raised its holdings in Verisign by 208.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 151 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 102 shares during the last quarter. AGF Investments LLC lifted its stake in shares of Verisign by 102.9% during the 2nd quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock worth $29,000 after purchasing an additional 70 shares during the period. Capital Investment Advisory Services LLC purchased a new position in shares of Verisign during the 2nd quarter worth $29,000. Finally, Advisory Services Network LLC lifted its stake in shares of Verisign by 98.9% during the 2nd quarter. Advisory Services Network LLC now owns 181 shares of the information services provider’s stock worth $38,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 91.49% of the company’s stock.
NASDAQ:VRSN traded down $5.72 during trading hours on Wednesday, reaching $190.99. 52,287 shares of the company were exchanged, compared to its average volume of 445,913. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 40.29 and a beta of 1.08. Verisign, Inc. has a 52-week low of $131.28 and a 52-week high of $221.78. The stock has a 50 day simple moving average of $207.07 and a 200 day simple moving average of $198.33.
Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.06. The company had revenue of $306.29 million during the quarter, compared to analysts’ expectations of $306.57 million. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. On average, analysts forecast that Verisign, Inc. will post 4.98 EPS for the current fiscal year.
In related news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the transaction, the director now owns 34,251 shares in the company, valued at $7,312,588.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.
VRSN has been the subject of a number of recent analyst reports. ValuEngine downgraded Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird increased their target price on Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Verisign currently has an average rating of “Buy” and an average price target of $204.75.
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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