VeriSign, Inc. (NASDAQ:VRSN) Stake Cut by abrdn plc

abrdn plc trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 32,779 shares of the information services provider’s stock after selling 1,703 shares during the quarter. abrdn plc’s holdings in VeriSign were worth $7,464,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. RiverFront Investment Group LLC lifted its stake in VeriSign by 4.1% in the second quarter. RiverFront Investment Group LLC now owns 1,233 shares of the information services provider’s stock valued at $281,000 after buying an additional 48 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in VeriSign by 0.7% in the second quarter. Rockefeller Capital Management L.P. now owns 7,411 shares of the information services provider’s stock valued at $1,687,000 after buying an additional 52 shares during the last quarter. CX Institutional lifted its stake in VeriSign by 34.0% in the second quarter. CX Institutional now owns 217 shares of the information services provider’s stock valued at $49,000 after buying an additional 55 shares during the last quarter. Ethic Inc. lifted its stake in VeriSign by 3.0% in the first quarter. Ethic Inc. now owns 2,141 shares of the information services provider’s stock valued at $426,000 after buying an additional 62 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in VeriSign by 108.6% in the second quarter. Arkadios Wealth Advisors now owns 121 shares of the information services provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Institutional investors own 88.46% of the company’s stock.

In other news, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $221.26, for a total transaction of $1,106,300.00. Following the transaction, the chief executive officer now directly owns 806,989 shares of the company’s stock, valued at $178,554,386.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Todd B. Strubbe sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 7th. The shares were sold at an average price of $231.32, for a total value of $693,960.00. The disclosure for this sale can be found here. Insiders have sold 17,052 shares of company stock worth $3,769,815 over the last three months. Corporate insiders own 1.27% of the company’s stock.

VRSN stock opened at $213.72 on Wednesday. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 38.79 and a beta of 0.79. VeriSign, Inc. has a 1 year low of $184.60 and a 1 year high of $234.56. The stock’s fifty day moving average is $218.34 and its two-hundred day moving average is $215.57.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 22nd. The information services provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $329.40 million during the quarter, compared to the consensus estimate of $328.16 million. VeriSign had a net margin of 48.49% and a negative return on equity of 44.73%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 earnings per share. Analysts predict that VeriSign, Inc. will post 5.38 EPS for the current fiscal year.

VeriSign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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