Sequoia Financial Advisors LLC Trims Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Sequoia Financial Advisors LLC lessened its position in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 23.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,666 shares of the information services provider’s stock after selling 503 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in VeriSign were worth $316,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in VeriSign by 10.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,103 shares of the information services provider’s stock valued at $56,042,000 after buying an additional 25,639 shares during the last quarter. Palo DS Manager LLC purchased a new stake in shares of VeriSign in the 4th quarter valued at $14,174,000. TD Asset Management Inc increased its stake in shares of VeriSign by 51.2% in the fourth quarter. TD Asset Management Inc now owns 330,291 shares of the information services provider’s stock worth $68,027,000 after acquiring an additional 111,911 shares during the period. Morningstar Investment Management LLC purchased a new position in shares of VeriSign during the fourth quarter worth $204,000. Finally, AGF Management Ltd. lifted its position in VeriSign by 614.0% during the fourth quarter. AGF Management Ltd. now owns 15,672 shares of the information services provider’s stock valued at $3,228,000 after purchasing an additional 13,477 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VRSN shares. Citigroup cut their price target on 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 cut VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Finally, Robert W. Baird restated a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a research report on Thursday, June 27th.

Get Our Latest Analysis on VRSN

VeriSign Stock Performance

Shares of VeriSign stock opened at $175.84 on Tuesday. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $225.11. The company has a market cap of $17.51 billion, a P/E ratio of 21.60 and a beta of 0.90. The firm has a 50-day simple moving average of $174.84 and a two-hundred day simple moving average of $187.67.

VeriSign (NASDAQ:VRSNGet Free Report) last released its quarterly 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 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%. VeriSign’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS.

Insider Activity at VeriSign

In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the stock in a transaction on 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 of the company’s stock, valued at $622,406.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Danny R. Mcpherson sold 1,200 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 29,181 shares in the company, valued at $4,964,855.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 3,661 shares in the company, valued at approximately $622,406.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,681 shares of company stock valued at $468,227. 0.84% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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