Waterfront Wealth Inc. Acquires 1,977 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Waterfront Wealth Inc. increased its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 59.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,276 shares of the information services provider’s stock after acquiring an additional 1,977 shares during the quarter. Waterfront Wealth Inc.’s holdings in VeriSign were worth $938,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VRSN. Norges Bank bought a new position in shares of VeriSign during the 4th quarter worth about $207,161,000. Liontrust Investment Partners LLP increased its stake in VeriSign by 5.8% during the second quarter. Liontrust Investment Partners LLP now owns 881,366 shares of the information services provider’s stock valued at $156,707,000 after acquiring an additional 48,344 shares during the period. Lazard Asset Management LLC raised its holdings in VeriSign by 6.7% in the 1st quarter. Lazard Asset Management LLC now owns 793,507 shares of the information services provider’s stock valued at $150,376,000 after acquiring an additional 49,967 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in VeriSign by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 652,346 shares of the information services provider’s stock valued at $115,987,000 after acquiring an additional 3,684 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of VeriSign by 94.7% in the 1st quarter. TD Asset Management Inc now owns 643,173 shares of the information services provider’s stock worth $121,888,000 after acquiring an additional 312,882 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 3,684 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the sale, the executive vice president now owns 37,774 shares of the company’s stock, valued at $7,177,060. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird restated a “neutral” rating and issued a $200.00 target price on shares of VeriSign in a research note on Thursday, June 27th. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th.

VeriSign Trading Up 1.0 %

NASDAQ VRSN opened at $183.90 on Monday. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91. The stock’s 50 day moving average is $178.88 and its two-hundred day moving average is $181.47. The company has a market capitalization of $17.95 billion, a price-to-earnings ratio of 22.59 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. The firm had revenue of $387.10 million for the quarter, compared to analysts’ expectations of $385.80 million. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 earnings per share.

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.