Magnus Financial Group LLC grew its stake in Verisign, Inc. (NASDAQ:VRSN) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,782 shares of the information services provider’s stock after purchasing an additional 66 shares during the period. Magnus Financial Group LLC’s holdings in Verisign were worth $373,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Verisign by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,516,001 shares of the information services provider’s stock worth $224,448,000 after purchasing an additional 100,450 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Verisign during the first quarter worth about $95,000. Wedbush Securities Inc. purchased a new position in shares of Verisign during the first quarter worth about $236,000. Brinker Capital Inc. grew its holdings in shares of Verisign by 0.6% during the first quarter. Brinker Capital Inc. now owns 11,591 shares of the information services provider’s stock worth $2,104,000 after buying an additional 66 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Verisign by 36.8% during the first quarter. Lindbrook Capital LLC now owns 591 shares of the information services provider’s stock worth $107,000 after buying an additional 159 shares during the last quarter. Institutional investors own 92.11% of the company’s stock.
In other Verisign news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the sale, the director now owns 34,251 shares of the company’s stock, valued at approximately $7,312,588.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.
VRSN has been the topic of a number of research reports. ValuEngine lowered Verisign from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Tuesday, April 30th. Finally, Robert W. Baird raised their price target on Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $204.75.
Shares of NASDAQ VRSN traded up $1.28 during midday trading on Tuesday, reaching $208.18. 5,535 shares of the company were exchanged, compared to its average volume of 575,686. Verisign, Inc. has a 1 year low of $131.28 and a 1 year high of $221.78. The stock has a fifty day simple moving average of $212.66 and a 200 day simple moving average of $194.98. The stock has a market cap of $24.43 billion, a P/E ratio of 43.65 and a beta of 1.06.
Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.06. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The company had revenue of $306.29 million for the quarter, compared to analyst estimates of $306.57 million. During the same quarter in the previous year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Verisign, Inc. will post 4.98 earnings per share for the current year.
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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