VeriSign, Inc. $VRSN Shares Sold by North Dakota State Investment Board

North Dakota State Investment Board lowered its position in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 51.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,498 shares of the information services provider’s stock after selling 2,670 shares during the quarter. North Dakota State Investment Board’s holdings in VeriSign were worth $704,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of VRSN. Addison Advisors LLC bought a new stake in shares of VeriSign in the 2nd quarter valued at approximately $30,000. PenderFund Capital Management Ltd. bought a new position in VeriSign during the second quarter worth $40,000. NewEdge Advisors LLC lifted its stake in VeriSign by 40.5% during the second quarter. NewEdge Advisors LLC now owns 243 shares of the information services provider’s stock worth $61,000 after purchasing an additional 70 shares during the last quarter. Global Assets Advisory LLC bought a new position in VeriSign during the first quarter worth $64,000. Finally, Elevated Capital Advisors LLC boosted its holdings in VeriSign by 13,650.0% in the first quarter. Elevated Capital Advisors LLC now owns 275 shares of the information services provider’s stock worth $68,000 after purchasing an additional 273 shares during the period. Institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling

In other VeriSign news, CEO D. Bidzos sold 3,300 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $291.09, for a total value of $960,597.00. Following the sale, the chief executive officer directly owned 394,927 shares of the company’s stock, valued at $114,959,300.43. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 45,856 shares of company stock worth $13,497,228. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on VRSN. Citigroup lifted their price objective on shares of VeriSign from $325.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Zacks Research cut shares of VeriSign from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. Robert W. Baird set a $380.00 price target on shares of VeriSign in a research report on Friday, October 23rd. Wedbush raised their price target on shares of VeriSign from $351.00 to $367.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Finally, Weiss Ratings raised shares of VeriSign from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $352.00.

Check Out Our Latest Research Report on VeriSign

VeriSign Stock Up 0.4%

Shares of VRSN stock opened at $307.21 on Friday. The company has a market cap of $27.56 billion, a P/E ratio of 33.03 and a beta of 0.69. The business has a 50 day moving average of $295.98 and a two-hundred day moving average of $271.38. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $312.78.

VeriSign (NASDAQ:VRSN – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The information services provider reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.11). The company had revenue of $443.00 million for the quarter, compared to analyst estimates of $440.58 million. VeriSign had a negative return on equity of 38.40% and a net margin of 49.06%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. Analysts expect that VeriSign, Inc. will post 9.53 EPS for the current fiscal year.

VeriSign Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, November 17th. VeriSign’s dividend payout ratio is presently 34.84%.

VeriSign Company Profile

(Free Report)

VeriSign, Inc (NASDAQ: VRSN) provides internet infrastructure services that support the global domain name system. The company operates the authoritative registry for the .com and .net top-level domains and provides registry services for certain other domains, helping maintain the databases that connect domain names with internet addresses.

The company’s services include domain name registry operations, domain name registration-related support for accredited registrars, and infrastructure designed to improve the availability, stability, and security of internet naming services.

See Also

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.