Pinnacle Financial Partners Inc Invests $6.11 Million in VeriSign, Inc. (NASDAQ:VRSN)

Pinnacle Financial Partners Inc purchased a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,174 shares of the information services provider’s stock, valued at approximately $6,112,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of VeriSign by 21.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,224 shares of the information services provider’s stock worth $20,320,000 after purchasing an additional 19,215 shares in the last quarter. Sei Investments Co. increased its holdings in VeriSign by 133.6% in the 1st quarter. Sei Investments Co. now owns 37,213 shares of the information services provider’s stock valued at $7,052,000 after buying an additional 21,285 shares during the period. Janus Henderson Group PLC raised its position in shares of VeriSign by 99.1% in the 1st quarter. Janus Henderson Group PLC now owns 24,199 shares of the information services provider’s stock valued at $4,585,000 after buying an additional 12,042 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of VeriSign by 7,443.1% during the 1st quarter. Acadian Asset Management LLC now owns 29,946 shares of the information services provider’s stock worth $5,673,000 after acquiring an additional 29,549 shares during the period. Finally, Epoch Investment Partners Inc. boosted its position in shares of VeriSign by 245.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 334,652 shares of the information services provider’s stock worth $63,420,000 after acquiring an additional 237,770 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total value of $233,320.00. Following the completion of the transaction, the executive vice president now owns 33,593 shares of the company’s stock, valued at $6,382,670. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the 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 completion of the transaction, the executive vice president now directly owns 33,593 shares in the company, valued at approximately $6,382,670. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $190.00, for a total value of $466,640.00. Following the sale, the executive vice president now directly owns 34,821 shares in the company, valued at $6,615,990. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

VeriSign Price Performance

Shares of NASDAQ:VRSN opened at $184.99 on Thursday. The company’s 50 day simple moving average is $183.90 and its 200 day simple moving average is $179.41. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $220.91. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 21.51 and a beta of 0.91.

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. The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. VeriSign’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 EPS.

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.