Daiwa Securities Group Inc. Acquires 176 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Daiwa Securities Group Inc. boosted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 1.7% during the 1st quarter, Holdings Channel reports. The firm owned 10,635 shares of the information services provider’s stock after buying an additional 176 shares during the period. Daiwa Securities Group Inc.’s holdings in VeriSign were worth $2,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of VeriSign by 10.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,103 shares of the information services provider’s stock worth $56,042,000 after buying an additional 25,639 shares in the last quarter. Palo DS Manager LLC bought a new position in shares of VeriSign in the 4th quarter valued at about $14,174,000. TD Asset Management Inc grew its position in VeriSign by 51.2% in the fourth quarter. TD Asset Management Inc now owns 330,291 shares of the information services provider’s stock worth $68,027,000 after acquiring an additional 111,911 shares in the last quarter. Morningstar Investment Management LLC bought a new stake in VeriSign during the fourth quarter worth approximately $204,000. Finally, AGF Management Ltd. raised its position in VeriSign by 614.0% during the fourth quarter. AGF Management Ltd. now owns 15,672 shares of the information services provider’s stock valued at $3,228,000 after purchasing an additional 13,477 shares during the period. Institutional investors own 92.90% of the company’s stock.

VeriSign Price Performance

Shares of NASDAQ:VRSN opened at $174.18 on Wednesday. The business has a 50 day simple moving average of $174.94 and a two-hundred day simple moving average of $187.44. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $225.11. The firm has a market capitalization of $17.35 billion, a PE ratio of 21.40 and a beta of 0.90.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRSN. Citigroup dropped their target price on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $200.00 target price on shares of VeriSign in a research note on Thursday, June 27th.

Get Our Latest Analysis on VRSN

Insider Buying and Selling

In other VeriSign news, EVP Danny R. Mcpherson sold 1,200 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the sale, the executive vice president now directly owns 29,181 shares of the company’s stock, valued at approximately $4,964,855.34. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $170.01, for a total transaction of $147,228.66. Following the transaction, the director now owns 3,661 shares in the company, valued at $622,406.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Danny R. Mcpherson sold 1,200 shares of VeriSign stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the sale, the executive vice president now owns 29,181 shares of the company’s stock, valued at $4,964,855.34. The disclosure for this sale can be found here. Insiders have sold 2,681 shares of company stock valued at $468,227 in the last 90 days. Company insiders own 0.84% of the company’s stock.

About VeriSign

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VeriSign, Inc. (NASDAQ:VRSNFree Report).

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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