Quadrant Capital Group LLC raised its stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 19.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,042 shares of the information services provider’s stock after purchasing an additional 172 shares during the period. Quadrant Capital Group LLC’s holdings in VeriSign were worth $231,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of VeriSign by 11.0% in the fourth quarter. BlackRock Inc. now owns 10,102,520 shares of the information services provider’s stock worth $2,564,222,000 after acquiring an additional 1,003,179 shares during the last quarter. State Street Corp grew its stake in shares of VeriSign by 4.3% in the fourth quarter. State Street Corp now owns 4,029,345 shares of the information services provider’s stock worth $1,022,728,000 after acquiring an additional 164,266 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of VeriSign by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,093,456 shares of the information services provider’s stock worth $530,418,000 after acquiring an additional 14,298 shares during the last quarter. Cantillon Capital Management LLC grew its stake in shares of VeriSign by 2.7% in the first quarter. Cantillon Capital Management LLC now owns 1,681,163 shares of the information services provider’s stock worth $373,991,000 after acquiring an additional 44,551 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of VeriSign by 26.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,470,687 shares of the information services provider’s stock worth $373,289,000 after acquiring an additional 308,504 shares during the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.
Insiders Place Their Bets
In other VeriSign news, Director Timothy Tomlinson sold 685 shares of VeriSign stock in a transaction on Monday, August 1st. The shares were sold at an average price of $186.80, for a total transaction of $127,958.00. Following the sale, the director now owns 15,692 shares in the company, valued at $2,931,265.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.
VeriSign Trading Up 0.8 %
VeriSign (NASDAQ:VRSN – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The information services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. VeriSign had a net margin of 59.09% and a negative return on equity of 47.84%. The firm had revenue of $351.90 million for the quarter, compared to the consensus estimate of $348.77 million. During the same quarter in the previous year, the company earned $1.31 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that VeriSign, Inc. will post 6.05 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Separately, Robert W. Baird downgraded shares of VeriSign from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $210.00 in a research note on Friday, April 29th.
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.
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