LPL Financial LLC Buys 1,419 Shares of VeriSign, Inc. (NASDAQ:VRSN)

LPL Financial LLC boosted its stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 12.0% in the fourth quarter, Holdings Channel reports. The firm owned 13,240 shares of the information services provider’s stock after acquiring an additional 1,419 shares during the period. LPL Financial LLC’s holdings in VeriSign were worth $2,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in VRSN. Concord Wealth Partners bought a new stake in VeriSign during the fourth quarter worth approximately $25,000. Capital Directions Investment Advisors LLC bought a new stake in shares of VeriSign in the fourth quarter valued at approximately $28,000. Accurate Wealth Management LLC bought a new stake in shares of VeriSign in the fourth quarter valued at approximately $29,000. Guardian Wealth Advisors LLC bought a new stake in shares of VeriSign in the third quarter valued at approximately $31,000. Finally, General Partner Inc. bought a new stake in shares of VeriSign in the fourth quarter valued at approximately $31,000. Institutional investors own 91.21% of the company’s stock.

VeriSign Trading Up 0.7 %

Shares of NASDAQ VRSN opened at $227.41 on Friday. The business has a fifty day simple moving average of $212.53 and a 200 day simple moving average of $206.24. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 34.88 and a beta of 1.01. VeriSign, Inc. has a one year low of $155.25 and a one year high of $227.84.

VeriSign (NASDAQ:VRSN – Get Rating) last issued its earnings results on Thursday, April 27th. The information services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $364.40 million during the quarter, compared to analyst estimates of $367.32 million. VeriSign had a negative return on equity of 45.19% and a net margin of 48.20%. VeriSign’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. On average, research analysts anticipate that VeriSign, Inc. will post 6.92 earnings per share for the current fiscal year.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $200.00, for a total value of $122,800.00. Following the completion of the transaction, the executive vice president now directly owns 45,799 shares in the company, valued at $9,159,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other VeriSign news, CEO D James Bidzos sold 2,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $225.05, for a total transaction of $450,100.00. Following the completion of the transaction, the chief executive officer now directly owns 601,642 shares in the company, valued at $135,399,532.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $200.00, for a total value of $122,800.00. Following the transaction, the executive vice president now owns 45,799 shares of the company’s stock, valued at $9,159,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,924 shares of company stock worth $10,766,250. 0.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on VRSN. StockNews.com began coverage on VeriSign in a research report on Thursday. They issued a “hold” rating for the company. Citigroup increased their price objective on VeriSign from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Monday, February 13th.

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.