Teachers Retirement System of The State of Kentucky Sells 651 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 9.1% in the 3rd quarter, Holdings Channel reports. The firm owned 6,482 shares of the information services provider’s stock after selling 651 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in VeriSign were worth $1,231,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of VRSN. Blue Trust Inc. lifted its position in shares of VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock worth $33,000 after buying an additional 131 shares during the last quarter. UMB Bank n.a. raised its stake in VeriSign by 117.2% during the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of VeriSign in the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of VeriSign in the 2nd quarter valued at approximately $39,000. Finally, Concord Wealth Partners grew its holdings in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Buying and Selling at VeriSign

In other news, EVP Thomas C. Indelicarto sold 1,228 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the sale, the executive vice president now directly owns 33,593 shares in the company, valued at $6,382,670. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at $5,033,391.51. This represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,776 shares of company stock worth $1,102,524. Insiders own 0.84% of the company’s stock.

VeriSign Price Performance

VRSN opened at $195.21 on Wednesday. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $209.47. The company’s 50 day moving average price is $186.46 and its two-hundred day moving average price is $182.61. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 22.70 and a beta of 0.92.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.06. The company had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. VeriSign’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share.

Wall Street Analyst Weigh In

VRSN has been the subject of several research reports. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $200.00 to $250.00 in a report on Monday, December 9th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th.

VeriSign Profile

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.