Douglas Lane & Associates LLC Decreases Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Douglas Lane & Associates LLC lessened its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 82.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,935 shares of the information services provider’s stock after selling 95,563 shares during the quarter. Douglas Lane & Associates LLC’s holdings in VeriSign were worth $3,977,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in VeriSign by 21.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,224 shares of the information services provider’s stock worth $20,320,000 after purchasing an additional 19,215 shares during the last quarter. Sei Investments Co. grew its holdings in shares of VeriSign by 133.6% during the first quarter. Sei Investments Co. now owns 37,213 shares of the information services provider’s stock valued at $7,052,000 after buying an additional 21,285 shares during the last quarter. SG Americas Securities LLC increased its position in shares of VeriSign by 21.5% in the 1st quarter. SG Americas Securities LLC now owns 53,602 shares of the information services provider’s stock valued at $10,158,000 after acquiring an additional 9,487 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in VeriSign in the 1st quarter worth $1,494,000. Finally, Janus Henderson Group PLC lifted its position in VeriSign by 99.1% during the 1st quarter. Janus Henderson Group PLC now owns 24,199 shares of the information services provider’s stock worth $4,585,000 after acquiring an additional 12,042 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 3,684 shares of VeriSign stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the transaction, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at $7,177,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas C. Indelicarto sold 3,684 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the sale, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at $7,177,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $190.00, for a total value of $466,640.00. Following the completion of the transaction, the executive vice president now owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird reissued a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

VeriSign Price Performance

NASDAQ VRSN opened at $188.10 on Monday. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $220.91. The company has a market capitalization of $18.73 billion, a PE ratio of 23.11 and a beta of 0.90. The company has a fifty day moving average of $182.14 and a 200 day moving average of $179.82.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.08. The business had revenue of $387.10 million during the quarter, compared to analysts’ expectations of $385.80 million. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS.

About VeriSign

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.