Cape Cod Five Cents Savings Bank Trims Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Cape Cod Five Cents Savings Bank lessened its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 79.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,981 shares of the information services provider’s stock after selling 11,298 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in VeriSign were worth $530,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after buying an additional 131 shares during the period. UMB Bank n.a. raised its position 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 buying an additional 109 shares during the period. Rothschild Investment LLC purchased a new stake in shares of VeriSign during the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in VeriSign in the second quarter valued at approximately $39,000. Finally, Concord Wealth Partners raised its position in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Stock Up 4.9 %

Shares of NASDAQ VRSN opened at $200.46 on Tuesday. The firm has a market cap of $19.26 billion, a price-to-earnings ratio of 23.31 and a beta of 0.92. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91. The business’s 50 day moving average is $185.07 and its two-hundred day moving average is $181.49.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The company had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The firm’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 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $200.00 to $250.00 in a research report on Monday.

Insiders Place Their Bets

In related news, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the transaction, the executive vice president now owns 34,821 shares in the company, valued at approximately $6,615,990. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $1,102,524 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

VeriSign 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.