OVERSEA CHINESE BANKING Corp Ltd Sells 770 Shares of VeriSign, Inc. (NASDAQ:VRSN)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 41.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,110 shares of the information services provider’s stock after selling 770 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in VeriSign were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in VRSN. Morgan Stanley boosted its holdings in shares of VeriSign by 14.7% during the 3rd quarter. Morgan Stanley now owns 1,826,836 shares of the information services provider’s stock worth $369,989,000 after buying an additional 233,811 shares during the period. AQR Capital Management LLC lifted its position in VeriSign by 99.0% during the third quarter. AQR Capital Management LLC now owns 442,523 shares of the information services provider’s stock worth $89,624,000 after acquiring an additional 220,106 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of VeriSign by 471.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 238,978 shares of the information services provider’s stock worth $49,220,000 after acquiring an additional 197,169 shares during the period. Invesco Ltd. grew its position in shares of VeriSign by 13.1% in the third quarter. Invesco Ltd. now owns 1,090,068 shares of the information services provider’s stock valued at $220,771,000 after purchasing an additional 125,901 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of VeriSign by 16.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 749,534 shares of the information services provider’s stock worth $151,802,000 after purchasing an additional 105,901 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the transaction, the chief operating officer now directly owns 111,551 shares in the company, valued at approximately $21,552,768.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total value of $119,737.29. Following the sale, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Todd B. Strubbe sold 9,423 shares of VeriSign stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the transaction, the chief operating officer now owns 111,551 shares in the company, valued at approximately $21,552,768.71. The disclosure for this sale can be found here. Insiders sold 14,877 shares of company stock valued at $2,878,864 over the last quarter. 0.94% of the stock is owned by company insiders.

VeriSign Trading Up 0.3 %

Shares of VRSN stock opened at $184.74 on Tuesday. The stock has a market cap of $18.50 billion, a P/E ratio of 23.33 and a beta of 0.88. VeriSign, Inc. has a 1 year low of $181.57 and a 1 year high of $229.72. The stock has a 50 day simple moving average of $190.35 and a 200 day simple moving average of $200.63.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.09. The firm had revenue of $380.40 million during the quarter, compared to the consensus estimate of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. Analysts forecast that VeriSign, Inc. will post 7.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRSN. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Citigroup decreased their price target on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd.

VeriSign Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.