Procyon Advisors LLC Cuts Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Procyon Advisors LLC lowered its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 49.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,423 shares of the information services provider’s stock after selling 1,410 shares during the quarter. Procyon Advisors LLC’s holdings in VeriSign were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of VRSN. ProShare Advisors LLC lifted its holdings in shares of VeriSign by 0.3% in the 1st quarter. ProShare Advisors LLC now owns 21,513 shares of the information services provider’s stock valued at $4,077,000 after acquiring an additional 62 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of VeriSign by 4.0% in the second quarter. Larson Financial Group LLC now owns 1,852 shares of the information services provider’s stock valued at $329,000 after acquiring an additional 71 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in VeriSign by 6.7% in the second quarter. V Square Quantitative Management LLC now owns 1,172 shares of the information services provider’s stock worth $208,000 after acquiring an additional 74 shares during the period. Gateway Advisory LLC boosted its stake in shares of VeriSign by 5.6% during the second quarter. Gateway Advisory LLC now owns 1,538 shares of the information services provider’s stock valued at $273,000 after purchasing an additional 81 shares in the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of VeriSign by 4.8% in the 2nd quarter. Profund Advisors LLC now owns 1,794 shares of the information services provider’s stock valued at $319,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Activity

In other news, EVP Thomas C. Indelicarto sold 2,456 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the sale, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. This 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 is available through this link. In other VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. This 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 is accessible through the SEC website. 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 transaction of $233,320.00. Following the completion of the sale, the executive vice president now owns 33,593 shares in the company, valued at $6,382,670. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,368 shares of company stock valued at $1,399,920 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reiterated a “neutral” rating and set a $200.00 price target on shares of VeriSign in a research note on Thursday, June 27th.

VeriSign Trading Down 0.5 %

VRSN opened at $187.06 on Thursday. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $220.91. The firm has a market capitalization of $18.63 billion, a PE ratio of 22.98 and a beta of 0.90. The firm’s 50-day moving average price is $182.79 and its 200 day moving average price is $179.85.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. The business had revenue of $387.10 million for the quarter, compared to analyst estimates of $385.80 million. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.79 EPS.

About VeriSign

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.