VeriSign, Inc. (NASDAQ:VRSN) Stake Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 47.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,169 shares of the information services provider’s stock after acquiring an additional 702 shares during the period. Sequoia Financial Advisors LLC’s holdings in VeriSign were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VRSN. Resurgent Financial Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of VeriSign by 52.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in shares of VeriSign by 2,628.6% in the 2nd quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock valued at $32,000 after purchasing an additional 184 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of VeriSign in the 4th quarter valued at $36,000. Finally, Baldwin Brothers LLC MA lifted its stake in shares of VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 111 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRSN has been the subject of several analyst reports. Citigroup reduced their price objective on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

VeriSign Price Performance

VeriSign stock opened at $181.57 on Thursday. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 22.93 and a beta of 0.88. VeriSign, Inc. has a fifty-two week low of $181.57 and a fifty-two week high of $229.72. The firm has a fifty day moving average price of $191.22 and a two-hundred day moving average price of $201.06.

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, topping analysts’ consensus estimates of $1.83 by $0.09. The firm had revenue of $380.40 million during the quarter, compared to analyst estimates of $381.01 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. As a group, sell-side analysts expect that VeriSign, Inc. will post 7.82 earnings per share for the current year.

Insiders Place Their Bets

In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the transaction, the executive vice president now owns 34,816 shares of the company’s stock, valued at approximately $6,930,124.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the transaction, the executive vice president now owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Danny R. Mcpherson sold 2,875 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $194.19, for a total transaction of $558,296.25. Following the transaction, the executive vice president now directly owns 30,895 shares of the company’s stock, valued at approximately $5,999,500.05. The disclosure for this sale can be found here. Insiders sold a total of 14,877 shares of company stock valued at $2,878,864 in the last quarter. Insiders own 0.94% of the company’s stock.

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.