Lucus Advisors LLC reduced its stake in VeriSign Inc. (NASDAQ:VRSN) by 30.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,058 shares of the company’s stock after selling 1,774 shares during the period. Lucus Advisors LLC’s holdings in VeriSign were worth $351,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. IFP Advisors Inc increased its position in VeriSign by 21.2% in the first quarter. IFP Advisors Inc now owns 1,432 shares of the company’s stock valued at $127,000 after buying an additional 250 shares in the last quarter. Bessemer Group Inc. increased its position in VeriSign by 1.1% in the first quarter. Bessemer Group Inc. now owns 2,304 shares of the company’s stock valued at $204,000 after buying an additional 24 shares in the last quarter. Fisher Asset Management LLC increased its position in VeriSign by 1.2% in the second quarter. Fisher Asset Management LLC now owns 2,527 shares of the company’s stock valued at $215,000 after buying an additional 31 shares in the last quarter. Conning Inc. increased its position in VeriSign by 3.3% in the second quarter. Conning Inc. now owns 2,504 shares of the company’s stock valued at $216,000 after buying an additional 80 shares in the last quarter. Finally, Catawba Capital Management VA acquired a new position in VeriSign during the second quarter valued at $246,000.
VeriSign Inc. (NASDAQ:VRSN) traded down 1.52% during midday trading on Thursday, reaching $78.21. 1,009,298 shares of the company traded hands. The company’s 50-day moving average price is $76.96 and its 200 day moving average price is $83.78. The firm has a market capitalization of $8.35 billion, a PE ratio of 24.92 and a beta of 1.26. VeriSign Inc. has a 12 month low of $70.26 and a 12 month high of $93.94.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The business had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that VeriSign Inc. will post $3.49 earnings per share for the current year.
Several equities analysts have recently weighed in on VRSN shares. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Cowen and Company restated a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a research report on Tuesday, September 6th. Citigroup Inc. restated a “sell” rating and set a $70.00 price objective on shares of VeriSign in a research report on Friday, September 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th.
In related news, Director Timothy Tomlinson sold 1,477 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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