Commerce Bank Cuts Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Commerce Bank reduced its stake in VeriSign, Inc. (NASDAQ:VRSN) by 70.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850 shares of the information services provider’s stock after selling 4,423 shares during the quarter. Commerce Bank’s holdings in VeriSign were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VRSN. Blue Trust Inc. increased its holdings in shares of VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock worth $33,000 after buying an additional 131 shares during the last quarter. UMB Bank n.a. increased its stake in 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 acquiring an additional 109 shares during the last quarter. Rothschild Investment LLC purchased a new stake in VeriSign during the second quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in VeriSign during the second quarter valued at about $39,000. Finally, Concord Wealth Partners lifted its stake in VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after purchasing an additional 109 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Trading Up 1.8 %

Shares of VeriSign stock opened at $185.16 on Wednesday. The firm has a market capitalization of $17.79 billion, a PE ratio of 21.53 and a beta of 0.91. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91. The business’s 50-day moving average price is $183.87 and its 200-day moving average price is $180.27.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The firm had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. During the same period last year, the firm posted $1.83 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 1,228 shares of VeriSign stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total value of $233,320.00. Following the transaction, the executive vice president now owns 33,593 shares in the company, valued at approximately $6,382,670. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by insiders.

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.