Amalgamated Bank Has $4.75 Million Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Amalgamated Bank lessened its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 15.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,068 shares of the information services provider’s stock after selling 4,074 shares during the quarter. Amalgamated Bank’s holdings in VeriSign were worth $4,751,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in VeriSign by 10.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,103 shares of the information services provider’s stock worth $56,042,000 after purchasing an additional 25,639 shares in the last quarter. Duality Advisers LP lifted its position in shares of VeriSign by 142.0% during the 4th quarter. Duality Advisers LP now owns 29,874 shares of the information services provider’s stock valued at $6,153,000 after acquiring an additional 17,529 shares during the period. NewEdge Wealth LLC boosted its stake in VeriSign by 15.8% during the fourth quarter. NewEdge Wealth LLC now owns 72,544 shares of the information services provider’s stock worth $14,941,000 after acquiring an additional 9,888 shares in the last quarter. Seven Eight Capital LP grew its holdings in VeriSign by 41.4% in the third quarter. Seven Eight Capital LP now owns 1,888 shares of the information services provider’s stock worth $382,000 after purchasing an additional 553 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in shares of VeriSign by 11.4% during the fourth quarter. Vontobel Holding Ltd. now owns 85,196 shares of the information services provider’s stock valued at $17,547,000 after purchasing an additional 8,710 shares during the period. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $169.56 on Wednesday. The stock has a market capitalization of $16.89 billion, a P/E ratio of 20.83 and a beta of 0.89. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $229.72. The stock’s 50-day simple moving average is $185.97 and its 200 day simple moving average is $197.90.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.86 by $0.06. The company had revenue of $384.30 million during the quarter, compared to the consensus estimate of $381.85 million. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. VeriSign’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS.

Insider Activity

In related news, EVP Danny R. Mcpherson sold 2,875 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $194.19, for a total transaction of $558,296.25. Following the completion of the transaction, the executive vice president now owns 30,895 shares of the company’s stock, valued at $5,999,500.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Danny R. Mcpherson sold 2,875 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $194.19, for a total value of $558,296.25. Following the sale, the executive vice president now owns 30,895 shares in the company, valued at $5,999,500.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas C. Indelicarto sold 613 shares of the business’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 transaction, the executive vice president now owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The disclosure for this sale can be found here. Insiders have sold a total of 14,139 shares of company stock worth $2,731,971 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VRSN. StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Citigroup decreased their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, Robert W. Baird lowered their price target on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th.

VeriSign Company 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.