Power Corp of Canada purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,420 shares of the information services provider’s stock, valued at approximately $247,000.
Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in VeriSign during the 2nd quarter valued at about $27,000. Private Trust Co. NA purchased a new stake in shares of VeriSign in the second quarter worth about $30,000. Guardian Wealth Advisors LLC purchased a new stake in shares of VeriSign in the third quarter worth about $31,000. Eagle Bay Advisors LLC boosted its stake in shares of VeriSign by 2,628.6% in the second quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock worth $32,000 after buying an additional 184 shares during the last quarter. Finally, Alta Advisers Ltd purchased a new stake in shares of VeriSign in the third quarter worth about $35,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.
Insider Buying and Selling at VeriSign
In other VeriSign news, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $200.00, for a total transaction of $122,800.00. Following the completion of the transaction, the executive vice president now owns 45,799 shares of the company’s stock, valued at $9,159,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kathleen A. Cote sold 2,665 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $202.97, for a total value of $540,915.05. Following the completion of the sale, the director now owns 28,759 shares of the company’s stock, valued at $5,837,214.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $200.00, for a total value of $122,800.00. Following the completion of the sale, the executive vice president now directly owns 45,799 shares of the company’s stock, valued at approximately $9,159,800. The disclosure for this sale can be found here. Insiders sold 60,733 shares of company stock valued at $12,645,242 over the last quarter. 0.98% of the stock is currently owned by insiders.
VeriSign Trading Down 0.1 %
VeriSign (NASDAQ:VRSN – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The information services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.17. The company had revenue of $369.20 million for the quarter, compared to the consensus estimate of $366.10 million. VeriSign had a negative return on equity of 46.13% and a net margin of 47.30%. VeriSign’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. On average, research analysts predict that VeriSign, Inc. will post 6.74 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $216.00 to $265.00 in a research note on Thursday, December 15th. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup upped their target price on VeriSign from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Monday, February 13th.
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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