Sumitomo Mitsui Trust Group Inc. Sells 5,518 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Sumitomo Mitsui Trust Group Inc. lowered its position in VeriSign, Inc. (NASDAQ:VRSN) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 231,474 shares of the information services provider’s stock after selling 5,518 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in VeriSign were worth $43,971,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock worth $33,000 after buying an additional 131 shares during the period. UMB Bank n.a. boosted its holdings in VeriSign by 117.2% in the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after buying an additional 109 shares during the period. Rothschild Investment LLC bought a new position in VeriSign in the 2nd quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in VeriSign in the 2nd quarter worth $39,000. Finally, Concord Wealth Partners boosted its holdings in VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after buying an additional 109 shares during the period. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $180.88 on Friday. The company has a market capitalization of $17.38 billion, a P/E ratio of 21.41 and a beta of 0.91. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $220.91. The company has a fifty day moving average of $183.92 and a 200 day moving average of $179.49.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. The business had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 EPS.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 1,228 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now directly owns 33,593 shares in the company, valued at approximately $6,382,670. This represents a 3.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

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.