Concert Wealth Management Inc. increased its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,859 shares of the company’s stock after buying an additional 59 shares during the period. Concert Wealth Management Inc.’s holdings in VeriSign were worth $247,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in VRSN. Bridger Management LLC bought a new stake in VeriSign during the first quarter valued at $36,446,000. BlackRock Institutional Trust Company N.A. raised its stake 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 worth $277,451,000 after buying an additional 393,377 shares during the period. AXA raised its stake in VeriSign by 496.3% in the first quarter. AXA now owns 319,000 shares of the company’s stock worth $28,244,000 after buying an additional 265,500 shares during the period. Makaira Partners LLC acquired a new stake in VeriSign during the first quarter worth approximately $19,972,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in VeriSign by 859.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 250,759 shares of the company’s stock worth $21,680,000 after buying an additional 224,613 shares during the period.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.66% on Friday, reaching $75.71. The company’s stock had a trading volume of 801,206 shares. The firm has a 50 day moving average of $76.84 and a 200 day moving average of $82.88. The company has a market cap of $8.08 billion, a PE ratio of 24.12 and a beta of 1.25. VeriSign Inc. has a 52-week low of $70.26 and a 52-week high of $93.94.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm earned $286 million during the quarter, compared to the consensus estimate of $284.34 million. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. Analysts predict that VeriSign Inc. will post $3.49 earnings per share for the current year.
A number of equities research analysts recently commented on VRSN shares. Cowen and Company restated a “market perform” rating and set a $80.00 price target on shares of VeriSign in a research report on Tuesday, September 6th. JPMorgan Chase & Co. increased their price target on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Citigroup Inc. restated a “sell” rating and set a $70.00 price target on shares of VeriSign in a research report on Friday, September 23rd. Finally, Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total transaction of $125,988.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.
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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