VeriSign, Inc. $VRSN Shares Acquired by Inceptionr LLC

Inceptionr LLC raised its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 158.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,445 shares of the information services provider’s stock after buying an additional 2,726 shares during the quarter. Inceptionr LLC’s holdings in VeriSign were worth $1,243,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Strategy Asset Managers LLC bought a new position in VeriSign during the third quarter worth $654,000. Allianz Asset Management GmbH increased its stake in VeriSign by 11.5% during the third quarter. Allianz Asset Management GmbH now owns 357,611 shares of the information services provider’s stock valued at $99,977,000 after purchasing an additional 36,829 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in VeriSign by 9.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,719 shares of the information services provider’s stock valued at $7,749,000 after purchasing an additional 2,435 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in shares of VeriSign during the third quarter worth $17,800,000. Finally, Abacus FCF Advisors LLC raised its holdings in shares of VeriSign by 25.2% during the third quarter. Abacus FCF Advisors LLC now owns 68,706 shares of the information services provider’s stock worth $19,208,000 after purchasing an additional 13,837 shares during the period. Institutional investors own 92.90% of the company’s stock.

Analyst Ratings Changes

VRSN has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Citigroup cut their target price on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. lifted their target price on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $292.00.

Insider Activity at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 498 shares of VeriSign stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $231.78, for a total transaction of $115,426.44. Following the sale, the executive vice president owned 40,028 shares of the company’s stock, valued at $9,277,689.84. The trade was a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total value of $496,560.00. Following the transaction, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 23,659 shares of company stock worth $5,788,560. 0.84% of the stock is owned by insiders.

VeriSign Stock Up 2.1%

Shares of NASDAQ:VRSN opened at $243.78 on Monday. The company’s 50-day moving average price is $236.81 and its 200 day moving average price is $252.12. The company has a market cap of $22.35 billion, a PE ratio of 27.67 and a beta of 0.76. VeriSign, Inc. has a fifty-two week low of $208.86 and a fifty-two week high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). The firm had revenue of $425.30 million during the quarter, compared to the consensus estimate of $424.04 million. VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.VeriSign’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS.

VeriSign Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 19th were issued a $0.81 dividend. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $3.24 dividend on an annualized basis and a yield of 1.3%. VeriSign’s dividend payout ratio is currently 36.78%.

VeriSign Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.