Frank Rimerman Advisors LLC Acquires 2,573 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Frank Rimerman Advisors LLC grew its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 42,883.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,579 shares of the information services provider’s stock after acquiring an additional 2,573 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in VeriSign were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the period. UMB Bank n.a. lifted its stake in shares of VeriSign by 117.2% in the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after buying an additional 109 shares during the period. Rothschild Investment LLC acquired a new stake in VeriSign during the second quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in VeriSign during the second quarter valued at about $39,000. Finally, Versant Capital Management Inc raised its holdings in VeriSign by 55.7% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the information services provider’s stock valued at $58,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 3,684 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the sale, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at $7,177,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird reissued a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

VeriSign Trading Up 0.7 %

VRSN stock opened at $183.88 on Wednesday. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91. The business’s 50 day moving average is $180.78 and its 200-day moving average is $180.13. The firm has a market cap of $17.95 billion, a P/E ratio of 22.59 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.08. The firm had revenue of $387.10 million during the quarter, compared to the consensus estimate of $385.80 million. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $1.79 EPS.

VeriSign Profile

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.