SteelPeak Wealth LLC Invests $408,000 in VeriSign, Inc. (NASDAQ:VRSN)

SteelPeak Wealth LLC acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the first quarter, Holdings Channel reports. The firm acquired 2,154 shares of the information services provider’s stock, valued at approximately $408,000.

A number of other institutional investors also recently added to or reduced their stakes in VRSN. Baldwin Brothers LLC MA raised its holdings in VeriSign by 158.6% in the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock worth $37,000 after purchasing an additional 111 shares in the last quarter. Quarry LP purchased a new position in shares of VeriSign in the 4th quarter worth approximately $76,000. Neo Ivy Capital Management purchased a new position in shares of VeriSign in the 4th quarter worth approximately $77,000. CX Institutional bought a new position in shares of VeriSign during the 4th quarter worth approximately $79,000. Finally, GAMMA Investing LLC purchased a new stake in VeriSign during the fourth quarter valued at approximately $97,000. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird restated a “neutral” rating and set a $200.00 target price on shares of VeriSign in a research note on Thursday. Finally, Citigroup decreased their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

Insider Buying and Selling at VeriSign

In other news, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the transaction, the director now directly 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 at the SEC website. In other 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 value of $147,228.66. Following the sale, 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 can be accessed through this hyperlink. Also, EVP Thomas C. Indelicarto sold 614 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,295 shares of company stock worth $584,887. 0.84% of the stock is currently owned by insiders.

VeriSign Trading Down 0.2 %

NASDAQ:VRSN opened at $177.80 on Monday. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $226.80. The company has a market cap of $17.71 billion, a PE ratio of 21.84 and a beta of 0.90. The company’s 50 day moving average is $175.51 and its two-hundred day moving average is $188.95.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.86 by $0.06. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. The business had revenue of $384.30 million during the quarter, compared to the consensus estimate of $381.85 million. During the same period in the previous year, the firm posted $1.70 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year.

About VeriSign

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.