Addison Advisors LLC Has $248,000 Position in VeriSign, Inc. (NASDAQ:VRSN)

Addison Advisors LLC raised its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 66.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,205 shares of the information services provider’s stock after acquiring an additional 479 shares during the quarter. Addison Advisors LLC’s holdings in VeriSign were worth $248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its stake in VeriSign by 52.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after buying an additional 52 shares during the last quarter. Baldwin Brothers LLC MA increased its stake in VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after buying an additional 111 shares during the last quarter. UMB Bank n.a. increased its stake in VeriSign by 91.7% in the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC grew its position in shares of VeriSign by 251.5% in the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 254 shares during the period. Finally, CX Institutional bought a new position in shares of VeriSign in the 4th quarter valued at about $79,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VRSN shares. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup decreased their price objective on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, Robert W. Baird decreased their price objective on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday.

VeriSign Stock Performance

Shares of VRSN stock traded down $7.20 during midday trading on Friday, hitting $175.48. 1,931,523 shares of the company were exchanged, compared to its average volume of 646,443. The firm has a market capitalization of $17.57 billion, a P/E ratio of 21.56 and a beta of 0.88. The firm’s 50 day moving average price is $189.29 and its two-hundred day moving average price is $200.03. VeriSign, Inc. has a 52 week low of $174.51 and a 52 week high of $229.72.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.86 by $0.06. The business had revenue of $384.30 million during the quarter, compared to the consensus estimate of $381.85 million. VeriSign had a net margin of 55.04% and a negative return on equity of 47.39%. VeriSign’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 EPS.

Insider Buying and Selling at VeriSign

In other VeriSign news, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the sale, the chief operating officer now owns 111,551 shares of the company’s stock, valued at approximately $21,552,768.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thomas C. Indelicarto sold 614 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares in the company, valued at approximately $7,971,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the transaction, the chief operating officer now owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The disclosure for this sale can be found here. Insiders sold 14,877 shares of company stock valued at $2,878,864 in the last quarter. Company insiders own 0.94% of the company’s stock.

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.