Alaska Permanent Fund Corp Increases Stake in VeriSign, Inc. (NASDAQ:VRSN)

Alaska Permanent Fund Corp raised its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,106 shares of the information services provider’s stock after buying an additional 781 shares during the period. Alaska Permanent Fund Corp’s holdings in VeriSign were worth $7,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its holdings in VeriSign by 52.0% during the third 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 holdings in VeriSign by 158.6% during the fourth 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. Quarry LP purchased a new stake in VeriSign during the fourth quarter valued at approximately $76,000. Neo Ivy Capital Management purchased a new stake in VeriSign during the fourth quarter valued at approximately $77,000. Finally, CX Institutional purchased a new stake in VeriSign during the fourth quarter valued at approximately $79,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Yehuda Ari Buchalter sold 866 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total transaction of $147,228.66. Following the completion of the transaction, the director now owns 3,661 shares in the company, valued at $622,406.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total transaction of $147,228.66. Following the completion of the transaction, the director now owns 3,661 shares in the company, valued at $622,406.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danny R. Mcpherson sold 1,200 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $170.14, for a total transaction of $204,168.00. Following the transaction, the executive vice president now owns 29,181 shares of the company’s stock, valued at approximately $4,964,855.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,295 shares of company stock worth $584,887. 0.84% of the stock is owned by insiders.

VeriSign Stock Performance

Shares of VRSN traded up $0.90 during mid-day trading on Thursday, reaching $179.10. The stock had a trading volume of 114,121 shares, compared to its average volume of 653,659. The business has a fifty day moving average of $176.19 and a 200 day moving average of $190.95. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $226.80. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 21.89 and a beta of 0.91.

VeriSign (NASDAQ:VRSNGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. The firm had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. VeriSign’s revenue for the quarter was up 5.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday. Robert W. Baird dropped their price target on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Citigroup dropped their price target 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.

Check Out Our Latest Stock Analysis on VRSN

About VeriSign

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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