Financial Advisors Network Inc. Buys 2,815 Shares of VeriSign, Inc. (VRSN)

Financial Advisors Network Inc. raised its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 284.1% during the first quarter, Holdings Channel reports. The firm owned 3,806 shares of the information services provider’s stock after buying an additional 2,815 shares during the period. Financial Advisors Network Inc.’s holdings in VeriSign were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VRSN. BlackRock Inc. boosted its position in VeriSign by 1,765.9% in the first quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock valued at $671,330,000 after buying an additional 7,293,666 shares during the period. SG Americas Securities LLC boosted its position in VeriSign by 37.0% in the first quarter. SG Americas Securities LLC now owns 27,559 shares of the information services provider’s stock valued at $2,401,000 after buying an additional 7,443 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in VeriSign by 13.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,464 shares of the information services provider’s stock valued at $112,000 after buying an additional 174 shares during the period. Manning & Napier Advisors LLC purchased a new position in VeriSign during the first quarter valued at $4,797,000. Finally, Vanguard Group Inc. boosted its position in VeriSign by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,489,961 shares of the information services provider’s stock valued at $739,561,000 after buying an additional 58,352 shares during the last quarter.

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

VeriSign, Inc. (NASDAQ VRSN) traded up 0.47% during trading on Friday, hitting $93.96. The stock had a trading volume of 616,301 shares. The firm has a 50 day moving average of $90.79 and a 200-day moving average of $85.19. VeriSign, Inc. has a 12 month low of $74.01 and a 12 month high of $94.26. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 26.54 and a beta of 1.24.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 27th. The information services provider reported $0.86 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. VeriSign had a net margin of 39.13% and a negative return on equity of 36.75%. The business had revenue of $288.60 million during the quarter, compared to the consensus estimate of $284.70 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that VeriSign, Inc. will post $3.95 earnings per share for the current year.

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Several equities analysts have recently weighed in on VRSN shares. Zacks Investment Research raised VeriSign from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Wednesday, June 14th. Cowen and Company increased their price target on VeriSign from $89.00 to $94.00 and gave the company a “market perform” rating in a report on Monday, April 3rd. Citigroup Inc. raised VeriSign from a “sell” rating to a “neutral” rating in a report on Wednesday, April 12th. Finally, Robert W. Baird reissued a “neutral” rating and set a $85.00 price target on shares of VeriSign in a report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $87.80.

About VeriSign

VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:VRSN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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