Fmr LLC reduced its stake in Verisign, Inc. (NASDAQ:VRSN) by 0.5% during the third quarter, HoldingsChannel reports. The firm owned 1,188,644 shares of the information services provider’s stock after selling 6,261 shares during the period. Fmr LLC’s holdings in Verisign were worth $190,326,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. IFM Investors Pty Ltd raised its stake in shares of Verisign by 44.4% during the third quarter. IFM Investors Pty Ltd now owns 5,631 shares of the information services provider’s stock worth $902,000 after acquiring an additional 1,731 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Verisign by 3.1% during the third quarter. First Trust Advisors LP now owns 1,822,904 shares of the information services provider’s stock worth $291,883,000 after acquiring an additional 54,837 shares in the last quarter. Nomura Holdings Inc. raised its stake in shares of Verisign by 32.7% during the second quarter. Nomura Holdings Inc. now owns 22,102 shares of the information services provider’s stock worth $3,037,000 after acquiring an additional 5,452 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Verisign by 10.5% during the third quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the information services provider’s stock worth $1,009,000 after acquiring an additional 600 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Verisign by 4.8% during the second quarter. Schroder Investment Management Group now owns 839,617 shares of the information services provider’s stock worth $64,137,000 after acquiring an additional 38,232 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.
VRSN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research note on Monday, September 24th. BidaskClub downgraded shares of Verisign from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research restated a “hold” rating on shares of Verisign in a report on Saturday, November 17th. Citigroup raised their target price on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Finally, Robert W. Baird upgraded shares of Verisign from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $170.00 in a report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $154.40.
In other news, Director Kathleen A. Cote sold 2,384 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the transaction, the director now owns 37,594 shares in the company, valued at $6,033,837. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.
Shares of Verisign stock opened at $157.40 on Friday. Verisign, Inc. has a 52-week low of $105.40 and a 52-week high of $176.76. The company has a market capitalization of $18.56 billion, a PE ratio of 42.77 and a beta of 0.99.
Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. The firm had revenue of $305.78 million for the quarter, compared to analysts’ expectations of $305.25 million. On average, research analysts forecast that Verisign, Inc. will post 4.37 EPS for the current fiscal year.
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VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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