Nordea Investment Management AB Reduces Stake in VeriSign, Inc. (NASDAQ:VRSN)

Nordea Investment Management AB lessened its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,126 shares of the information services provider’s stock after selling 1,348 shares during the period. Nordea Investment Management AB’s holdings in VeriSign were worth $7,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC lifted its position in shares of VeriSign by 18.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,191 shares of the information services provider’s stock worth $226,000 after buying an additional 183 shares during the last quarter. BNP Paribas Financial Markets lifted its position in VeriSign by 38.9% in the first quarter. BNP Paribas Financial Markets now owns 546,308 shares of the information services provider’s stock valued at $103,531,000 after acquiring an additional 153,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in VeriSign by 11.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,913 shares of the information services provider’s stock valued at $4,287,000 after acquiring an additional 2,258 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in VeriSign by 45.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,595 shares of the information services provider’s stock valued at $3,903,000 after acquiring an additional 6,432 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of VeriSign by 32.0% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 8,804 shares of the information services provider’s stock worth $1,669,000 after purchasing an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Stock Down 0.5 %

Shares of VRSN stock opened at $175.84 on Tuesday. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $225.11. The stock’s 50-day moving average price is $174.84 and its 200 day moving average price is $187.67. The stock has a market capitalization of $17.51 billion, a PE ratio of 21.60 and a beta of 0.90.

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

Insiders Place Their Bets

In other news, 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 transaction of $147,228.66. Following the transaction, the director now directly owns 3,661 shares in the company, valued at $622,406.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Yehuda Ari Buchalter sold 866 shares of VeriSign stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $170.01, for a total value of $147,228.66. Following the sale, the director now directly owns 3,661 shares in the company, valued at $622,406.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction on 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 owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,681 shares of company stock worth $468,227. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Robert W. Baird reissued a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th. Finally, 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 report on Tuesday, April 2nd.

Check Out Our Latest Stock Report on VeriSign

VeriSign Company 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.