Raymond James Financial Services Advisors Inc. Lowers Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Raymond James Financial Services Advisors Inc. reduced its position in shares of VeriSign, Inc. (NASDAQ:VRSNGet Rating) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,265 shares of the information services provider’s stock after selling 75 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in VeriSign were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRSN. Martin Investment Management LLC increased its stake in VeriSign by 0.3% in the 2nd quarter. Martin Investment Management LLC now owns 26,597 shares of the information services provider’s stock worth $4,450,000 after acquiring an additional 68 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of VeriSign by 7.4% in the second quarter. Quadrant Capital Group LLC now owns 1,119 shares of the information services provider’s stock worth $187,000 after purchasing an additional 77 shares during the last quarter. Federated Hermes Inc. raised its stake in VeriSign by 6.8% in the second quarter. Federated Hermes Inc. now owns 1,231 shares of the information services provider’s stock valued at $206,000 after purchasing an additional 78 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in VeriSign by 0.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,580 shares of the information services provider’s stock valued at $1,938,000 after purchasing an additional 80 shares during the last quarter. Finally, Scotia Capital Inc. grew its stake in VeriSign by 1.3% in the 2nd quarter. Scotia Capital Inc. now owns 6,686 shares of the information services provider’s stock worth $1,119,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.

Insider Activity

In other VeriSign news, CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $209.15, for a total transaction of $418,300.00. Following the completion of the transaction, the chief executive officer now owns 678,444 shares of the company’s stock, valued at approximately $141,896,562.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other VeriSign news, EVP Thomas C. Indelicarto sold 1,226 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $200.00, for a total value of $245,200.00. Following the completion of the transaction, the executive vice president now owns 42,429 shares in the company, valued at $8,485,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $209.15, for a total value of $418,300.00. Following the transaction, the chief executive officer now directly owns 678,444 shares of the company’s stock, valued at approximately $141,896,562.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,596 shares of company stock valued at $13,989,196. Insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com started coverage on shares of VeriSign in a report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup started coverage on VeriSign in a report on Tuesday, December 13th. They issued a “buy” rating and a $243.00 price objective for the company. Finally, Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $216.00 to $265.00 in a report on Thursday, December 15th.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $215.51 on Wednesday. VeriSign, Inc. has a 12-month low of $155.25 and a 12-month high of $228.80. The stock’s 50-day moving average price is $203.45 and its 200-day moving average price is $191.52. The stock has a market capitalization of $22.85 billion, a P/E ratio of 28.66 and a beta of 0.95.

VeriSign (NASDAQ:VRSNGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The information services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. VeriSign had a negative return on equity of 47.71% and a net margin of 59.07%. The firm had revenue of $357.00 million during the quarter, compared to the consensus estimate of $356.40 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that VeriSign, Inc. will post 6.08 EPS for the current year.

VeriSign Company Profile

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VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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