Mizuho Asset Management Co. Ltd. increased its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 112.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,327 shares of the company’s stock after buying an additional 701 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in VeriSign were worth $115,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Commerce Bank acquired a new position in VeriSign during the second quarter worth approximately $365,000. Bridger Management LLC acquired a new position in VeriSign during the first quarter worth approximately $36,446,000. Smith Asset Management Group LP raised its position in VeriSign by 1.7% in the second quarter. Smith Asset Management Group LP now owns 404,910 shares of the company’s stock worth $35,009,000 after buying an additional 6,584 shares in the last quarter. Capstone Asset Management Co. raised its position in VeriSign by 16.7% in the second quarter. Capstone Asset Management Co. now owns 18,994 shares of the company’s stock worth $1,642,000 after buying an additional 2,720 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in VeriSign by 5.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 24,710 shares of the company’s stock worth $2,136,000 after buying an additional 1,255 shares in the last quarter.
VeriSign Inc. (NASDAQ:VRSN) traded down 0.47% during midday trading on Thursday, hitting $79.05. The stock had a trading volume of 73,792 shares. The company’s 50-day moving average price is $77.14 and its 200 day moving average price is $83.82. The company has a market capitalization of $8.44 billion, a PE ratio of 25.18 and a beta of 1.26. VeriSign Inc. has a 52 week low of $70.21 and a 52 week high of $93.94.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The firm had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. During the same quarter last year, the company earned $0.74 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that VeriSign Inc. will post $3.49 EPS for the current year.
A number of equities analysts have commented on VRSN shares. Citigroup Inc. reissued a “sell” rating and issued a $70.00 price objective on shares of VeriSign in a research note on Friday, September 23rd. Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. boosted their price objective on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. Finally, Cowen and Company restated a “market perform” rating and set a $80.00 target price on shares of VeriSign in a research report on Tuesday, September 6th.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.
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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