Redpoint Investment Management Pty Ltd Sells 1,125 Shares of Verisign, Inc. (VRSN)

Redpoint Investment Management Pty Ltd decreased its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,112 shares of the information services provider’s stock after selling 1,125 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Verisign were worth $2,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors bought a new position in Verisign in the 3rd quarter worth about $991,190,000. Vanguard Group Inc increased its stake in Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after acquiring an additional 485,685 shares during the last quarter. Vanguard Group Inc. increased its stake in Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after acquiring an additional 485,685 shares during the last quarter. Cantillon Capital Management LLC increased its stake in Verisign by 41.3% in the 4th quarter. Cantillon Capital Management LLC now owns 1,562,701 shares of the information services provider’s stock worth $231,733,000 after acquiring an additional 456,587 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Verisign by 400.1% in the 3rd quarter. Prudential Financial Inc. now owns 536,626 shares of the information services provider’s stock worth $85,925,000 after acquiring an additional 429,322 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VRSN opened at $170.53 on Tuesday. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 35.90 and a beta of 1.00. Verisign, Inc. has a twelve month low of $109.20 and a twelve month high of $176.76.

Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.37. The business had revenue of $307.45 million for the quarter, compared to analyst estimates of $308.64 million. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. On average, equities analysts predict that Verisign, Inc. will post 4.76 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on VRSN shares. Robert W. Baird upgraded Verisign from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $170.00 in a research note on Friday, November 2nd. Citigroup upped their target price on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. upgraded Verisign from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $125.00 to $160.00 in a research note on Friday, November 2nd. Zacks Investment Research restated a “hold” rating on shares of Verisign in a research note on Saturday, November 17th. Finally, BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $167.00.

In other news, EVP Thomas C. Indelicarto sold 3,300 shares of the 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 transaction, the executive vice president now directly owns 55,871 shares in the company, valued at approximately $8,425,905.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.35% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Redpoint Investment Management Pty Ltd Sells 1,125 Shares of Verisign, Inc. (VRSN)” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2019/02/12/redpoint-investment-management-pty-ltd-sells-1125-shares-of-verisign-inc-vrsn.html.

Verisign Company Profile

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.

Featured Article: How to Use the New Google Finance Tool

Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verisign, Inc. (NASDAQ:VRSN).

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

Receive News & Ratings for Verisign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verisign and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply