Orion Portfolio Solutions LLC Sells 71 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Orion Portfolio Solutions LLC trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,369 shares of the information services provider’s stock after selling 71 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in VeriSign were worth $1,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in VeriSign by 291.1% during the second quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. UMB Bank n.a. increased its stake in VeriSign by 117.2% during the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Rothschild Investment LLC acquired a new stake in VeriSign during the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in VeriSign in the second quarter valued at approximately $39,000. Finally, Concord Wealth Partners increased its position in shares of 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 acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $250.00 in a research report on Monday. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday.

Insider Buying and Selling at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the transaction, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock valued at $1,102,524 in the last quarter. 0.84% of the stock is currently owned by insiders.

VeriSign Stock Down 0.5 %

Shares of VeriSign stock opened at $199.10 on Friday. The stock has a market cap of $19.13 billion, a P/E ratio of 23.15 and a beta of 0.92. 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 is $185.58 and its 200-day moving average is $181.82.

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 analysts’ consensus estimates of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $390.19 million. During the same quarter last year, the company posted $1.83 earnings per share. VeriSign’s quarterly revenue was up 3.8% on a year-over-year basis.

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.