Markston International LLC cut its stake in VeriSign Inc. (NASDAQ:VRSN) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,766 shares of the company’s stock after selling 1,769 shares during the period. Markston International LLC’s holdings in VeriSign were worth $7,416,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRSN. Investec Asset Management LTD increased its position in VeriSign by 34.4% in the first quarter. Investec Asset Management LTD now owns 1,655,246 shares of the company’s stock valued at $146,555,000 after buying an additional 423,210 shares during the last quarter. Bridger Management LLC bought a new position in VeriSign during the first quarter valued at about $36,446,000. BlackRock Institutional Trust Company N.A. increased its position in VeriSign by 14.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,133,620 shares of the company’s stock valued at $277,451,000 after buying an additional 393,377 shares during the last quarter. AXA increased its position in VeriSign by 496.3% in the first quarter. AXA now owns 319,000 shares of the company’s stock valued at $28,244,000 after buying an additional 265,500 shares during the last quarter. Finally, Makaira Partners LLC bought a new position in VeriSign during the first quarter valued at about $19,972,000.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.99% during mid-day trading on Wednesday, hitting $79.42. 738,263 shares of the stock traded hands. The firm has a market capitalization of $8.48 billion, a P/E ratio of 25.30 and a beta of 1.26. The company’s 50 day moving average is $77.30 and its 200 day moving average is $83.85. VeriSign Inc. has a one year low of $68.92 and a one year high of $93.94.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The firm earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. On average, equities analysts expect that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
VRSN has been the topic of several research reports. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. boosted their price objective on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Cowen and Company restated a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a report on Tuesday, September 6th. Finally, Citigroup Inc. restated a “sell” rating and set a $70.00 price objective on shares of VeriSign in a report on Friday, September 23rd.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is currently owned by company 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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