Thrivent Financial for Lutherans Sells 13,410 Shares of VeriSign, Inc. $VRSN

Thrivent Financial for Lutherans lowered its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 20.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,166 shares of the information services provider’s stock after selling 13,410 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of VeriSign worth $14,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT lifted its holdings in shares of VeriSign by 20.2% during the second quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider’s stock worth $65,000 after purchasing an additional 38 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the period. OFI Invest Asset Management lifted its stake in VeriSign by 11.6% in the third quarter. OFI Invest Asset Management now owns 452 shares of the information services provider’s stock valued at $126,000 after buying an additional 47 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of VeriSign by 51.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 50 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

Insider Buying and Selling at VeriSign

In other news, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $248.14, for a total transaction of $1,240,700.00. Following the completion of the sale, the chief executive officer owned 453,439 shares in the company, valued at $112,516,353.46. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 37,999 shares of company stock worth $9,367,804. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on VRSN. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Robert W. Baird set a $325.00 price objective on VeriSign in a research note on Friday, October 24th. Zacks Research cut VeriSign from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. upped their price target on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Finally, Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $298.00.

VeriSign Stock Performance

NASDAQ VRSN opened at $243.57 on Wednesday. VeriSign, Inc. has a 52-week low of $216.43 and a 52-week high of $310.60. The company has a 50-day simple moving average of $247.05 and a 200 day simple moving average of $260.38. The company has a market capitalization of $22.58 billion, a PE ratio of 28.39 and a beta of 0.75.

VeriSign 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.