Asset Management Advisors LLC Invests $5.07 Million in VeriSign, Inc. (NASDAQ:VRSN)

Asset Management Advisors LLC purchased a new position in VeriSign, Inc. (NASDAQ:VRSN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 28,520 shares of the information services provider’s stock, valued at approximately $5,071,000. VeriSign comprises about 3.9% of Asset Management Advisors LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of VeriSign in the 4th quarter worth $207,161,000. Lazard Asset Management LLC raised its position 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 worth $150,376,000 after buying an additional 49,967 shares during the last quarter. TD Asset Management Inc lifted its stake in VeriSign by 94.7% during the 1st quarter. TD Asset Management Inc now owns 643,173 shares of the information services provider’s stock valued at $121,888,000 after acquiring an additional 312,882 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of VeriSign by 38.9% during the 1st quarter. BNP Paribas Financial Markets now owns 546,308 shares of the information services provider’s stock valued at $103,531,000 after acquiring an additional 153,035 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of VeriSign by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,829 shares of the information services provider’s stock worth $95,324,000 after acquiring an additional 2,706 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Price Performance

Shares of VRSN traded down $0.16 on Monday, reaching $174.85. The company’s stock had a trading volume of 552,142 shares, compared to its average volume of 682,253. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $220.91. The stock has a market capitalization of $17.07 billion, a P/E ratio of 21.44 and a beta of 0.90. The stock’s 50 day simple moving average is $178.90 and its two-hundred day simple moving average is $183.57.

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

Insider Transactions at VeriSign

In other VeriSign 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 sale, the executive vice president now owns 37,774 shares in the company, valued at approximately $7,177,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Thomas C. Indelicarto sold 3,684 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $190.00, for a total value of $699,960.00. Following the completion of the transaction, the executive vice president now owns 37,774 shares of the company’s stock, valued at approximately $7,177,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Danny R. Mcpherson sold 1,200 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the sale, the executive vice president now owns 29,181 shares of the company’s stock, valued at approximately $4,964,855.34. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VRSN shares. Robert W. Baird restated a “neutral” rating and issued a $200.00 target price on shares of VeriSign in a report on Thursday, June 27th. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

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.