Mediolanum International Funds Ltd Sells 8,099 Shares of VeriSign, Inc. $VRSN

Mediolanum International Funds Ltd cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,241 shares of the information services provider’s stock after selling 8,099 shares during the period. Mediolanum International Funds Ltd’s holdings in VeriSign were worth $12,010,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in VeriSign by 25.3% in the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after buying an additional 40 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of VeriSign by 12.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock valued at $313,000 after purchasing an additional 135 shares during the last quarter. NewEdge Advisors LLC boosted its stake in VeriSign by 104.5% in the 1st quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock worth $1,047,000 after purchasing an additional 2,108 shares in the last quarter. Jones Financial Companies Lllp grew its position in VeriSign by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock worth $852,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in VeriSign by 2.0% during the 1st quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock valued at $2,373,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insiders Place Their Bets

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $248.14, for a total transaction of $1,240,700.00. Following the transaction, the chief executive officer owned 453,439 shares in the company, valued at approximately $112,516,353.46. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 38,333 shares of company stock valued at $9,449,473. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

VRSN has been the subject of several research analyst reports. Zacks Research cut VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $282.00.

VeriSign Stock Performance

Shares of NASDAQ VRSN opened at $244.23 on Monday. VeriSign, Inc. has a 1 year low of $211.79 and a 1 year high of $310.60. The company’s fifty day moving average price is $247.26 and its 200 day moving average price is $260.87. The company has a market capitalization of $22.64 billion, a PE ratio of 28.47 and a beta of 0.75.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.