Toronto Dominion Bank Sells 25,268 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Toronto Dominion Bank reduced its position in VeriSign, Inc. (NASDAQ:VRSN) by 46.0% during the second quarter, HoldingsChannel reports. The fund owned 29,682 shares of the information services provider’s stock after selling 25,268 shares during the quarter. Toronto Dominion Bank’s holdings in VeriSign were worth $5,277,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Gilbert & Cook Inc. increased its stake in shares of VeriSign by 7.8% in the fourth quarter. Gilbert & Cook Inc. now owns 2,311 shares of the information services provider’s stock worth $476,000 after purchasing an additional 168 shares in the last quarter. Allianz Asset Management GmbH grew its stake in VeriSign by 25.7% in the 4th quarter. Allianz Asset Management GmbH now owns 32,645 shares of the information services provider’s stock valued at $6,724,000 after buying an additional 6,668 shares in the last quarter. Bank of Nova Scotia raised its holdings in VeriSign by 399.2% during the 4th quarter. Bank of Nova Scotia now owns 42,064 shares of the information services provider’s stock valued at $8,663,000 after acquiring an additional 33,637 shares during the period. California State Teachers Retirement System lifted its position in shares of VeriSign by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 145,535 shares of the information services provider’s stock worth $29,974,000 after acquiring an additional 1,601 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new position in shares of VeriSign in the fourth quarter worth $3,828,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Price Performance

NASDAQ VRSN opened at $190.64 on Friday. The company’s 50 day simple moving average is $181.29 and its two-hundred day simple moving average is $180.17. The stock has a market capitalization of $18.99 billion, a PE ratio of 23.42 and a beta of 0.90. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $220.91.

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

Analyst Ratings Changes

A number of analysts recently issued reports on VRSN shares. Robert W. Baird reiterated a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a research note on Thursday, June 27th. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 3,684 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $190.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.84% of the company’s stock.

VeriSign Company 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.