Lbp Am Sa Makes New $792,000 Investment in VeriSign, Inc. (NASDAQ:VRSN)

Lbp Am Sa acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,120 shares of the information services provider’s stock, valued at approximately $792,000.

A number of other institutional investors have also recently made changes to their positions in VRSN. Rakuten Securities Inc. lifted its position in shares of VeriSign by 13,000.0% in the first quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider’s stock worth $33,000 after buying an additional 130 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of VeriSign by 106.5% during the 1st quarter. UMB Bank n.a. now owns 159 shares of the information services provider’s stock worth $40,000 after acquiring an additional 82 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of VeriSign during the 1st quarter valued at approximately $47,000. Whipplewood Advisors LLC boosted its position in shares of VeriSign by 48.8% during the 1st quarter. Whipplewood Advisors LLC now owns 186 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 61 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of VeriSign in the first quarter valued at $58,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Transactions at VeriSign

In related news, Director Yehuda Ari Buchalter sold 600 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $283.79, for a total transaction of $170,274.00. Following the transaction, the director directly owned 3,735 shares in the company, valued at $1,059,955.65. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas C. Indelicarto sold 501 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.17, for a total value of $145,375.17. Following the completion of the sale, the executive vice president directly owned 38,270 shares of the company’s stock, valued at approximately $11,104,805.90. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,004 shares of company stock valued at $9,305,492 in the last 90 days. Insiders own 0.84% of the company’s stock.

VeriSign Trading Down 1.5%

Shares of VeriSign stock opened at $285.29 on Friday. The stock’s fifty day moving average price is $281.14 and its 200-day moving average price is $248.82. The firm has a market cap of $26.79 billion, a P/E ratio of 34.88 and a beta of 0.78. VeriSign, Inc. has a 12 month low of $172.49 and a 12 month high of $291.54.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.10 EPS for the quarter, meeting analysts’ consensus estimates of $2.10. The business had revenue of $402.30 million for the quarter, compared to the consensus estimate of $400.44 million. VeriSign had a net margin of 50.23% and a negative return on equity of 41.37%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS.

VeriSign Announces Dividend

The company also recently declared a — dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a $0.77 dividend. The ex-dividend date was Monday, May 19th. VeriSign’s dividend payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VRSN shares. Wall Street Zen upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Saturday, April 12th. Robert W. Baird upped their price target on shares of VeriSign from $285.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st.

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.