Dorsey & Whitney Trust CO LLC Acquires Shares of 1,415 VeriSign, Inc. (NASDAQ:VRSN)

Dorsey & Whitney Trust CO LLC bought a new position in VeriSign, Inc. (NASDAQ:VRSN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,415 shares of the information services provider’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. grew its position in VeriSign by 291.1% during 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 last quarter. UMB Bank n.a. increased its position in shares of VeriSign by 117.2% during 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 in the last quarter. Rothschild Investment LLC purchased a new position in VeriSign in the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in VeriSign in the 2nd quarter valued at approximately $39,000. Finally, Versant Capital Management Inc boosted its stake in VeriSign by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the information services provider’s stock valued at $58,000 after purchasing an additional 117 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at VeriSign

In other news, EVP Thomas C. Indelicarto sold 3,684 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 37,774 shares of the company’s stock, valued at approximately $7,177,060. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on VRSN. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research note 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, June 27th.

VeriSign Price Performance

Shares of VRSN opened at $179.97 on Friday. The firm has a market capitalization of $17.93 billion, a P/E ratio of 22.11 and a beta of 0.90. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91. The business has a fifty day moving average of $179.85 and a 200 day moving average of $180.91.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. The business had revenue of $387.10 million during 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 business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company 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.