VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,998 shares of the information services provider’s stock after selling 13,937 shares during the quarter. Douglas Lane & Associates LLC’s holdings in VeriSign were worth $1,448,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VRSN. Concord Wealth Partners raised its position in shares of VeriSign by 93.2% during the 3rd 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 period. Tobam increased its position in VeriSign by 61.1% in the third quarter. Tobam now owns 311 shares of the information services provider’s stock worth $59,000 after buying an additional 118 shares during the period. Intact Investment Management Inc. bought a new stake in VeriSign in the third quarter valued at $76,000. Blue Trust Inc. lifted its stake in VeriSign by 138.6% in the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after buying an additional 244 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of VeriSign during the second quarter valued at $76,000. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

VRSN has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and raised their price target for the company from $200.00 to $250.00 in a research note on Monday, December 9th. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

VeriSign Trading Up 1.2 %

VeriSign stock opened at $211.67 on Thursday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $213.68. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 24.61 and a beta of 0.89. The company’s 50-day moving average price is $192.36 and its two-hundred day moving average price is $185.25.

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

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the sale, the executive vice president now directly owns 26,157 shares in the company, valued at $5,033,391.51. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas C. Indelicarto sold 1,228 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company’s stock, valued at $6,382,670. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.