GAMMA Investing LLC Buys Shares of 487 VeriSign, Inc. (NASDAQ:VRSN)

GAMMA Investing LLC bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 487 shares of the information services provider’s stock, valued at approximately $97,000.

Several other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its stake in 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 acquiring an additional 52 shares in the last quarter. Modera Wealth Management LLC raised its stake in shares of VeriSign by 3.6% during the 3rd quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock worth $349,000 after purchasing an additional 60 shares in the last quarter. CWM LLC raised its stake in shares of VeriSign by 2.1% during the 4th quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after purchasing an additional 60 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of VeriSign by 0.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,571 shares of the information services provider’s stock worth $1,736,000 after purchasing an additional 65 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its stake in shares of VeriSign by 1.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock worth $1,262,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Down 3.9 %

VRSN stock opened at $175.48 on Monday. The firm has a market capitalization of $17.48 billion, a PE ratio of 21.56 and a beta of 0.88. VeriSign, Inc. has a 1-year low of $174.51 and a 1-year high of $229.72. The business’s 50 day simple moving average is $189.29 and its 200 day simple moving average is $199.90.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The business had revenue of $384.30 million for the quarter, compared to analyst estimates of $381.85 million. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 EPS.

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the transaction, the executive vice president now directly owns 34,816 shares of the company’s stock, valued at approximately $6,930,124.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the transaction, the executive vice president now directly owns 34,816 shares of the company’s stock, valued at approximately $6,930,124.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Todd B. Strubbe sold 9,423 shares of the company’s stock in a transaction 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 $21,552,768.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,877 shares of company stock valued at $2,878,864. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRSN. Robert W. Baird dropped their price objective on VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Citigroup dropped their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd.

About VeriSign

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.