27,394 Shares in VeriSign, Inc. (NASDAQ:VRSN) Purchased by Tri Ri Asset Management Corp

Tri Ri Asset Management Corp bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 27,394 shares of the information services provider’s stock, valued at approximately $5,204,000. VeriSign accounts for about 2.7% of Tri Ri Asset Management Corp’s investment portfolio, making the stock its 15th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. UMB Bank n.a. increased its stake in shares of VeriSign by 117.2% during the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 109 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of VeriSign during the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of VeriSign during the 2nd quarter valued at about $39,000. Finally, Concord Wealth Partners increased its stake in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the transaction, the executive vice president now directly owns 26,157 shares in the company, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now owns 33,593 shares of the company’s stock, valued at approximately $6,382,670. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $1,102,524 in the last 90 days. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VRSN has been the subject of a number of research analyst reports. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $250.00 in a research report on Monday.

VeriSign Stock Performance

VRSN opened at $199.10 on Friday. The firm has a 50 day moving average price of $185.84 and a 200 day moving average price of $181.94. The company has a market cap of $19.13 billion, a PE ratio of 23.15 and a beta of 0.92. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $220.91.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The firm 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS.

VeriSign Company 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.