Northwestern Mutual Investment Management Company LLC decreased its stake in VeriSign Inc. (NASDAQ:VRSN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,643 shares of the company’s stock after selling 36 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in VeriSign were worth $315,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in VeriSign by 76.1% in the second quarter. Global X Management Co. LLC now owns 1,166 shares of the company’s stock valued at $101,000 after buying an additional 504 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in VeriSign by 22.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,215 shares of the company’s stock valued at $105,000 after buying an additional 220 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in VeriSign by 112.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock valued at $115,000 after buying an additional 701 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in VeriSign during the second quarter valued at $123,000. Finally, IFP Advisors Inc increased its stake 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 during the last quarter.
Shares of VeriSign Inc. (NASDAQ:VRSN) opened at 78.23 on Tuesday. The company has a 50-day moving average price of $77.46 and a 200-day moving average price of $83.92. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 24.92 and a beta of 1.26. VeriSign Inc. has a 12 month low of $67.04 and a 12 month high of $93.94.
VeriSign (NASDAQ:VRSN) last posted its earnings results 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. 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 in the prior year, the company earned $0.74 EPS. VeriSign’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 fiscal year.
Several research firms have issued reports on VRSN. Citigroup Inc. reiterated a “sell” rating and issued a $70.00 target price on shares of VeriSign in a research note on Friday. Cowen and Company restated a “market perform” rating and set a $80.00 price target on shares of VeriSign in a research note on Tuesday, September 6th. JPMorgan Chase & Co. boosted their price target on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was 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 at this link. 0.92% of the stock is owned by company insiders.
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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