Verisign, Inc. (VRSN) Shares Sold by Dupont Capital Management Corp
Dupont Capital Management Corp cut its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 35.9% during the third quarter, Holdings Channel reports. The institutional investor owned 32,403 shares of the information services provider’s stock after selling 18,138 shares during the quarter. Dupont Capital Management Corp’s holdings in Verisign were worth $5,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Braun Bostich & Associates Inc. grew its holdings in shares of Verisign by 1,283.3% during the second quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock valued at $125,000 after buying an additional 847 shares during the last quarter. Sandy Spring Bank grew its holdings in shares of Verisign by 100.0% during the second quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock valued at $137,000 after buying an additional 500 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Verisign during the second quarter valued at $149,000. Advisory Services Network LLC grew its holdings in shares of Verisign by 954.9% during the third quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock valued at $154,000 after buying an additional 869 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Verisign during the third quarter valued at $181,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
In other Verisign news, Director Kathleen A. Cote sold 2,384 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the sale, the director now directly owns 37,594 shares of the company’s stock, valued at $6,033,837. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. The company had revenue of $305.78 million for the quarter, compared to analyst estimates of $305.25 million. As a group, equities research analysts anticipate that Verisign, Inc. will post 4.37 EPS for the current year.
A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Verisign from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $125.00 to $160.00 in a report on Friday, November 2nd. Citigroup upped their price target on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. BidaskClub lowered shares of Verisign from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Cowen reaffirmed a “hold” rating and issued a $155.00 price target on shares of Verisign in a report on Friday, July 27th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $160.00 price target on shares of Verisign in a report on Friday, July 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $154.40.
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VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
See Also: Return on Investment (ROI)
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