Los Angeles Capital Management LLC Decreases Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Los Angeles Capital Management LLC lowered its position in VeriSign, Inc. (NASDAQ:VRSN) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,874 shares of the information services provider’s stock after selling 47,055 shares during the period. Los Angeles Capital Management LLC owned approximately 0.10% of VeriSign worth $20,776,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its holdings in shares of VeriSign by 52.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 52 shares in the last quarter. Modera Wealth Management LLC grew its stake in VeriSign by 3.6% during the 3rd quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after purchasing an additional 60 shares during the last quarter. CWM LLC raised its stake in shares of VeriSign by 2.1% in the fourth quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after purchasing an additional 60 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of VeriSign by 0.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,571 shares of the information services provider’s stock worth $1,736,000 after purchasing an additional 65 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its position in VeriSign by 1.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock valued at $1,262,000 after buying an additional 68 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total transaction of $122,017.65. Following the transaction, the executive vice president now owns 34,816 shares in the company, valued at approximately $6,930,124.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the sale, the executive vice president now owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,752 shares of company stock worth $2,853,989. 0.84% of the stock is owned by corporate insiders.

VeriSign Price Performance

VRSN stock traded down $0.02 during trading on Friday, hitting $168.32. 898,086 shares of the company traded hands, compared to its average volume of 851,396. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $229.72. The company has a market cap of $16.76 billion, a PE ratio of 20.68 and a beta of 0.89. The stock’s 50-day simple moving average is $187.50 and its 200 day simple moving average is $198.98.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. The business had revenue of $384.30 million for the quarter, compared to analyst estimates of $381.85 million. During the same period in the prior year, the company posted $1.70 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Citigroup reduced their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, Robert W. Baird decreased their target price on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

About VeriSign

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.