CIBC Asset Management Inc Sells 704 Shares of VeriSign, Inc. (NASDAQ:VRSN)

CIBC Asset Management Inc decreased its holdings in VeriSign, Inc. (NASDAQ:VRSNFree Report) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,611 shares of the information services provider’s stock after selling 704 shares during the period. CIBC Asset Management Inc’s holdings in VeriSign were worth $2,597,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of VeriSign by 52.0% during 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. Baldwin Brothers LLC MA boosted its holdings in shares of VeriSign by 158.6% during the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 111 shares in the last quarter. CX Institutional acquired a new stake in shares of VeriSign during the 4th quarter valued at $79,000. GAMMA Investing LLC acquired a new stake in shares of VeriSign during the 4th quarter valued at $97,000. Finally, Tacita Capital Inc acquired a new position in VeriSign during the 3rd quarter worth about $111,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the sale, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yehuda Ari Buchalter sold 866 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the sale, the director now directly owns 3,661 shares of the company’s stock, valued at $622,406.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,295 shares of company stock valued at $584,887. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on VRSN shares. Citigroup cut their target price on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird cut their target price on VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th.

Get Our Latest Stock Analysis on VRSN

VeriSign Trading Up 0.1 %

VRSN stock opened at $180.46 on Friday. The stock has a 50-day moving average price of $177.65 and a 200-day moving average price of $193.00. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $226.80. The firm has a market cap of $17.97 billion, a PE ratio of 22.17 and a beta of 0.91.

VeriSign (NASDAQ:VRSNGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping 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 firm had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. During the same period last year, the company posted $1.70 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.

VeriSign Profile

(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.

See Also

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)

Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.