Empowered Funds LLC Takes $1.48 Million Position in Verisign, Inc. (VRSN)
Empowered Funds LLC purchased a new position in Verisign, Inc. (NASDAQ:VRSN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,172 shares of the information services provider’s stock, valued at approximately $1,484,000.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Verisign by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock valued at $1,820,286,000 after acquiring an additional 485,685 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Verisign during the 4th quarter valued at $117,000. Oppenheimer Asset Management Inc. lifted its position in shares of Verisign by 9.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 1,578 shares of the information services provider’s stock valued at $234,000 after acquiring an additional 132 shares during the period. Wetherby Asset Management Inc. acquired a new position in shares of Verisign during the 4th quarter valued at $204,000. Finally, SG Americas Securities LLC lifted its position in shares of Verisign by 27.7% during the 4th quarter. SG Americas Securities LLC now owns 30,793 shares of the information services provider’s stock valued at $4,566,000 after acquiring an additional 6,673 shares during the period. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on VRSN. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research report on Tuesday, April 30th. BidaskClub upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Citigroup reiterated a “neutral” rating and set a $195.00 target price (up previously from $175.00) on shares of Verisign in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $180.80.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The company had revenue of $306.41 million during the quarter, compared to analyst estimates of $302.63 million. Verisign had a net margin of 49.98% and a negative return on equity of 43.07%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. On average, equities analysts forecast that Verisign, Inc. will post 4.96 EPS for the current year.
In related news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $199.55, for a total transaction of $75,429.90. Following the completion of the transaction, the director now owns 34,094 shares in the company, valued at $6,803,457.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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