Verisign, Inc. (VRSN) Stake Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Verisign, Inc. (NASDAQ:VRSN) by 4.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,337 shares of the information services provider’s stock after selling 934 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Verisign were worth $1,684,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. TrimTabs Asset Management LLC boosted its stake in shares of Verisign by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,341 shares of the information services provider’s stock worth $117,000 after buying an additional 632 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Verisign by 13.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,464 shares of the information services provider’s stock worth $112,000 after buying an additional 174 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Verisign by 3.4% in the first quarter. Pacer Advisors Inc. now owns 1,654 shares of the information services provider’s stock worth $144,000 after buying an additional 55 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Verisign during the first quarter worth about $178,000. Finally, Advisor Partners LLC purchased a new stake in shares of Verisign during the first quarter worth about $223,000.
Shares of Verisign, Inc. (NASDAQ:VRSN) traded up 0.72% on Friday, hitting $89.19. 737,773 shares of the stock traded hands. The stock has a 50 day moving average of $88.76 and a 200-day moving average of $83.40. The stock has a market cap of $9.05 billion, a PE ratio of 25.19 and a beta of 1.20. Verisign, Inc. has a 1-year low of $74.01 and a 1-year high of $91.80.
Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, April 27th. The information services provider reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $288.60 million during the quarter, compared to the consensus estimate of $284.70 million. Verisign had a net margin of 38.58% and a negative return on equity of 36.88%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, equities research analysts expect that Verisign, Inc. will post $3.94 EPS for the current year.
Several equities research analysts have weighed in on VRSN shares. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Saturday, February 18th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective on shares of Verisign in a research report on Tuesday, February 28th. Citigroup Inc upgraded shares of Verisign from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 12th. Finally, Cowen and Company raised their price objective on shares of Verisign from $89.00 to $94.00 and gave the company a “market perform” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $87.40.
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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