Panagora Asset Management Inc. trimmed its stake in Verisign, Inc. (NASDAQ:VRSN) by 6.1% in the third quarter, HoldingsChannel.com reports. The firm owned 9,264 shares of the information services provider’s stock after selling 604 shares during the period. Panagora Asset Management Inc.’s holdings in Verisign were worth $1,483,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Gideon Capital Advisors Inc. bought a new position in shares of Verisign in the third quarter valued at $936,000. Pictet Asset Management Ltd. lifted its position in shares of Verisign by 8.5% during the third quarter. Pictet Asset Management Ltd. now owns 98,631 shares of the information services provider’s stock valued at $15,793,000 after purchasing an additional 7,700 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Verisign during the third quarter valued at about $206,000. Canada Pension Plan Investment Board lifted its position in shares of Verisign by 7.2% during the third quarter. Canada Pension Plan Investment Board now owns 319,498 shares of the information services provider’s stock valued at $51,158,000 after purchasing an additional 21,388 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Verisign during the third quarter valued at about $1,641,000. Institutional investors and hedge funds own 92.12% of the company’s stock.
A number of research firms recently weighed in on VRSN. BidaskClub raised shares of Verisign from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Zacks Investment Research reissued a “hold” rating on shares of Verisign in a research report on Saturday, November 17th. Citigroup raised their price target on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, November 2nd. Robert W. Baird raised shares of Verisign from a “neutral” rating to an “outperform” rating and raised their price target for the company from $160.00 to $170.00 in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. raised shares of Verisign from an “underweight” rating to a “neutral” rating and raised their price target for the company from $125.00 to $160.00 in a research report on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $154.40.
Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, research analysts predict that Verisign, Inc. will post 4.37 EPS for the current fiscal year.
In other Verisign news, Director Kathleen A. Cote sold 2,384 shares of Verisign stock in a transaction dated 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 owns 37,594 shares of the company’s stock, valued at $6,033,837. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 3,300 shares of Verisign stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $150.81, for a total transaction of $497,673.00. Following the completion of the sale, the executive vice president now directly owns 55,871 shares in the company, valued at approximately $8,425,905.51. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.
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: Insider Trading – What You Need to Know
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