Trexquant Investment LP Sells 9,862 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Posted by Defense World Staff on Mar 14th, 2023

Trexquant Investment LP decreased its holdings in VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 58.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,044 shares of the information services provider’s stock after selling 9,862 shares during the period. Trexquant Investment LP’s holdings in VeriSign were worth $1,224,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Greenleaf Trust lifted its position in shares of VeriSign by 10.6% in the 3rd quarter. Greenleaf Trust now owns 2,625 shares of the information services provider’s stock worth $456,000 after purchasing an additional 251 shares during the period. Bank of Montreal Can increased its stake in shares of VeriSign by 29.4% in the 2nd quarter. Bank of Montreal Can now owns 75,475 shares of the information services provider’s stock worth $12,777,000 after acquiring an additional 17,164 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of VeriSign by 3.3% in the 3rd quarter. Prospera Financial Services Inc now owns 4,619 shares of the information services provider’s stock worth $802,000 after acquiring an additional 146 shares in the last quarter. Wedmont Private Capital increased its stake in shares of VeriSign by 58.0% in the 3rd quarter. Wedmont Private Capital now owns 2,731 shares of the information services provider’s stock worth $474,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Martin Investment Management LLC increased its stake in shares of VeriSign by 0.3% in the 2nd quarter. Martin Investment Management LLC now owns 26,597 shares of the information services provider’s stock worth $4,450,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.

VeriSign Stock Performance

NASDAQ:VRSN opened at $191.26 on Tuesday. The firm has a market cap of $20.06 billion, a P/E ratio of 30.60 and a beta of 1.00. VeriSign, Inc. has a fifty-two week low of $155.25 and a fifty-two week high of $228.80. The firm has a 50-day simple moving average of $208.01 and a two-hundred day simple moving average of $195.48.

VeriSign (NASDAQ:VRSN – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The information services provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.17. The business had revenue of $369.20 million during the quarter, compared to analyst estimates of $366.10 million. VeriSign had a net margin of 47.30% and a negative return on equity of 46.13%. VeriSign’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. On average, equities research analysts predict that VeriSign, Inc. will post 6.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRSN shares. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $216.00 to $265.00 in a research note on Thursday, December 15th. Citigroup increased their price target on shares of VeriSign from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Monday, February 13th.

Insider Transactions at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $202.41, for a total value of $404,820.00. Following the completion of the sale, the chief executive officer now directly owns 674,444 shares in the company, valued at $136,514,210.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Thomas C. Indelicarto sold 614 shares of VeriSign 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 in the company, valued at $9,159,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $202.41, for a total transaction of $404,820.00. Following the completion of the sale, the chief executive officer now owns 674,444 shares of the company’s stock, valued at $136,514,210.04. The disclosure for this sale can be found here. Insiders sold 77,733 shares of company stock worth $16,091,912 over the last three months. 0.98% of the stock is currently owned by company insiders.

About VeriSign

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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.