VeriSign, Inc. (NASDAQ:VRSN) Position Trimmed by Mendota Financial Group LLC

Mendota Financial Group LLC trimmed its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 23.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 872 shares of the information services provider’s stock after selling 270 shares during the quarter. Mendota Financial Group LLC’s holdings in VeriSign were worth $180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners boosted its stake 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 buying an additional 109 shares during the period. Tobam boosted its stake in shares of VeriSign by 61.1% during the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock valued at $59,000 after buying an additional 118 shares during the period. Blue Trust Inc. boosted its stake in shares of VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after buying an additional 244 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of VeriSign during the 3rd quarter valued at $76,000. Finally, True Wealth Design LLC boosted its stake in shares of VeriSign by 16,966.7% during the 3rd quarter. True Wealth Design LLC now owns 512 shares of the information services provider’s stock valued at $97,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VRSN opened at $209.56 on Tuesday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $213.68. The firm has a market capitalization of $20.14 billion, a P/E ratio of 24.37 and a beta of 0.89. The company has a 50-day simple moving average of $194.30 and a 200-day simple moving average of $185.94.

VeriSign (NASDAQ:VRSN) last announced 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. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The company had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. During the same quarter last year, the firm earned $1.83 EPS. VeriSign’s revenue for the quarter was up 3.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRSN. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Citigroup raised their price target on shares of VeriSign from $210.00 to $238.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $250.00 in a research report on Monday, December 9th.

Insider Transactions at VeriSign

In other news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction that occurred 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 sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by insiders.

VeriSign Company 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.