Toronto Dominion Bank Trims Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Toronto Dominion Bank cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,950 shares of the information services provider’s stock after selling 653 shares during the quarter. Toronto Dominion Bank owned about 0.06% of VeriSign worth $10,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VRSN. Raymond James & Associates lifted its position in VeriSign by 8.2% during the fourth quarter. Raymond James & Associates now owns 25,062 shares of the information services provider’s stock worth $5,162,000 after buying an additional 1,902 shares during the period. Pacer Advisors Inc. raised its holdings in shares of VeriSign by 170.2% in the 4th quarter. Pacer Advisors Inc. now owns 23,705 shares of the information services provider’s stock worth $4,882,000 after purchasing an additional 14,933 shares during the period. Procyon Advisors LLC raised its holdings in shares of VeriSign by 25.1% in the 4th quarter. Procyon Advisors LLC now owns 3,226 shares of the information services provider’s stock worth $664,000 after purchasing an additional 648 shares during the period. Caprock Group LLC raised its holdings in shares of VeriSign by 26.1% in the 4th quarter. Caprock Group LLC now owns 1,593 shares of the information services provider’s stock worth $328,000 after purchasing an additional 330 shares during the period. Finally, Atlantic Union Bankshares Corp raised its holdings in shares of VeriSign by 17.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 6,798 shares of the information services provider’s stock worth $1,400,000 after purchasing an additional 1,033 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Danny R. Mcpherson sold 1,200 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the sale, the executive vice president now owns 29,181 shares in the company, valued at $4,964,855.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $170.01, for a total transaction of $147,228.66. Following the completion of the sale, the director now owns 3,661 shares in the company, valued at approximately $622,406.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Danny R. Mcpherson sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $170.14, for a total value of $204,168.00. Following the sale, the executive vice president now owns 29,181 shares of the company’s stock, valued at approximately $4,964,855.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,067 shares of company stock worth $351,567. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Stock Performance

Shares of VRSN stock traded up $7.36 during trading hours on Friday, reaching $184.10. The company had a trading volume of 1,328,546 shares, compared to its average volume of 671,414. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $220.91. The company has a market capitalization of $18.34 billion, a P/E ratio of 22.62 and a beta of 0.90. The stock’s fifty day simple moving average is $176.94 and its 200 day simple moving average is $185.34.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The business had revenue of $387.10 million during the quarter, compared to analyst estimates of $385.80 million. During the same quarter last year, the firm earned $1.79 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Analyst Upgrades and Downgrades

VRSN has been the topic of a number of research reports. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird restated a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th. Finally, Citigroup cut their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

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.