Summit Trail Advisors LLC Lowers Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Summit Trail Advisors LLC cut its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,454 shares of the information services provider’s stock after selling 111 shares during the quarter. Summit Trail Advisors LLC’s holdings in VeriSign were worth $466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of VeriSign by 99.1% in the first quarter. Janus Henderson Group PLC now owns 24,199 shares of the information services provider’s stock worth $4,585,000 after purchasing an additional 12,042 shares during the period. KBC Group NV lifted its stake in shares of VeriSign by 56.3% during the 3rd quarter. KBC Group NV now owns 17,495 shares of the information services provider’s stock valued at $3,323,000 after buying an additional 6,303 shares in the last quarter. Prudential PLC boosted its holdings in VeriSign by 50.4% in the 2nd quarter. Prudential PLC now owns 69,563 shares of the information services provider’s stock worth $12,368,000 after buying an additional 23,306 shares during the period. Ibex Investors LLC purchased a new stake in VeriSign in the 2nd quarter worth $622,000. Finally, Asset Management Advisors LLC bought a new stake in VeriSign during the second quarter valued at about $5,071,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Stock Up 1.8 %

Shares of VeriSign stock opened at $185.16 on Wednesday. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 21.53 and a beta of 0.91. The stock’s 50-day simple moving average is $183.87 and its 200-day simple moving average is $180.27. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $220.91.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The company had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $390.19 million. During the same period in the previous year, the firm earned $1.83 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total value of $233,320.00. Following the sale, the executive vice president now directly owns 33,593 shares in the company, valued at approximately $6,382,670. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

VeriSign Profile

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.