Daiwa Securities Group Inc. Purchases 176 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Daiwa Securities Group Inc. grew its position in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,635 shares of the information services provider’s stock after purchasing an additional 176 shares during the quarter. Daiwa Securities Group Inc.’s holdings in VeriSign were worth $2,015,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in shares of VeriSign by 3.6% during the third quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after buying an additional 60 shares during the period. CWM LLC increased its position in shares of VeriSign by 2.1% in the fourth quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after purchasing an additional 60 shares during the last quarter. Desjardins Global Asset Management Inc. increased its position 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 purchasing an additional 68 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of VeriSign by 7.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,098 shares of the information services provider’s stock worth $226,000 after purchasing an additional 74 shares during the last quarter. Finally, Equitable Trust Co. increased its position in shares of VeriSign by 1.2% in the first quarter. Equitable Trust Co. now owns 7,227 shares of the information services provider’s stock worth $1,370,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Insider Activity

In other news, EVP Danny R. Mcpherson sold 1,200 shares of the 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 owns 29,181 shares of the company’s stock, valued at $4,964,855.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Danny R. Mcpherson sold 1,200 shares of the 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 owns 29,181 shares of the company’s stock, valued at $4,964,855.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Yehuda Ari Buchalter sold 866 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,661 shares of the company’s stock, valued at approximately $622,406.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,681 shares of company stock valued at $468,227. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on VRSN shares. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. 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. Finally, Citigroup decreased their price objective 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.

Read Our Latest Research Report on VeriSign

VeriSign Price Performance

Shares of VRSN opened at $174.18 on Wednesday. The firm has a market cap of $17.35 billion, a P/E ratio of 21.40 and a beta of 0.90. The stock has a 50 day simple moving average of $174.94 and a two-hundred day simple moving average of $187.44. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $225.11.

VeriSign (NASDAQ:VRSNGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06. The business had revenue of $384.30 million during 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%. VeriSign’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share.

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.

Further Reading

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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