Korea Investment CORP Lowers Position in VeriSign, Inc. (VRSN)
Korea Investment CORP reduced its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 16.8% during the second quarter, Holdings Channel reports. The fund owned 79,800 shares of the information services provider’s stock after selling 16,100 shares during the period. Korea Investment CORP’s holdings in VeriSign were worth $7,418,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in VRSN. Thrivent Financial for Lutherans boosted its stake in VeriSign by 4.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,160 shares of the information services provider’s stock valued at $240,000 after buying an additional 130 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in VeriSign by 0.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 76,744 shares of the information services provider’s stock valued at $6,685,000 after buying an additional 721 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in VeriSign by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 30,378 shares of the information services provider’s stock valued at $2,646,000 after buying an additional 200 shares during the last quarter. Atria Investments LLC boosted its stake in VeriSign by 39.0% in the first quarter. Atria Investments LLC now owns 6,880 shares of the information services provider’s stock valued at $599,000 after buying an additional 1,929 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in VeriSign by 0.4% in the first quarter. Nisa Investment Advisors LLC now owns 60,488 shares of the information services provider’s stock valued at $5,269,000 after buying an additional 242 shares during the last quarter.
VeriSign, Inc. (VRSN) opened at 99.77 on Thursday. The company has a 50-day moving average of $97.21 and a 200 day moving average of $89.59. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 27.19 and a beta of 1.20. VeriSign, Inc. has a 52-week low of $74.01 and a 52-week high of $103.79.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. The firm had revenue of $289 million during the quarter, compared to the consensus estimate of $287.47 million. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities research analysts anticipate that VeriSign, Inc. will post $3.97 EPS for the current year.
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VRSN has been the subject of several research reports. Citigroup Inc. upgraded shares of VeriSign from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 12th. Zacks Investment Research upgraded shares of VeriSign from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Finally, Cowen and Company reiterated a “market perform” rating and issued a $94.00 target price on shares of VeriSign in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $87.75.
In other VeriSign news, Director Timothy Tomlinson sold 1,240 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $101.00, for a total value of $125,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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