Seven Eight Capital LP Purchases 2,091 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Seven Eight Capital LP boosted its position in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 110.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,979 shares of the information services provider’s stock after buying an additional 2,091 shares during the period. Seven Eight Capital LP’s holdings in VeriSign were worth $820,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VRSN. Cary Street Partners Investment Advisory LLC raised its position in VeriSign by 52.0% during the third 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 in the last quarter. Modera Wealth Management LLC grew its position in VeriSign by 3.6% in the third quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after acquiring an additional 60 shares during the last quarter. CWM LLC raised its stake in VeriSign by 2.1% during the fourth quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after acquiring an additional 60 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of VeriSign by 1.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock worth $1,262,000 after acquiring an additional 68 shares during the last quarter. Finally, Baldwin Brothers LLC MA boosted 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 in the last quarter. 92.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Analysis on VRSN

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $180.46 on Monday. The firm has a market cap of $17.97 billion, a PE ratio of 22.17 and a beta of 0.91. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $226.80. The firm’s fifty day moving average is $177.65 and its 200-day moving average is $192.71.

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

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 1,200 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $170.14, for a total value of $204,168.00. Following the transaction, the executive vice president now owns 29,181 shares in the company, valued at $4,964,855.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now owns 42,569 shares in the company, valued at approximately $8,088,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Danny R. Mcpherson sold 1,200 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $170.14, for a total transaction of $204,168.00. Following the transaction, the executive vice president now directly owns 29,181 shares in the company, valued at $4,964,855.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,295 shares of company stock worth $584,887. 0.84% of the stock is currently owned by insiders.

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.

See Also

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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