Trust Asset Management LLC Makes New Investment in VeriSign, Inc. (NASDAQ:VRSN)

Trust Asset Management LLC bought a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,054 shares of the information services provider’s stock, valued at approximately $200,000.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of 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 in the last quarter. UMB Bank n.a. raised its position in VeriSign by 117.2% during the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Rothschild Investment LLC purchased a new stake in VeriSign during the second quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of VeriSign in the 2nd quarter valued at approximately $39,000. Finally, Concord Wealth Partners boosted its holdings in shares of 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 purchasing an additional 109 shares during the period. Institutional investors own 92.90% of the company’s stock.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

VeriSign Trading Up 1.5 %

Shares of NASDAQ VRSN traded up $2.77 during trading hours on Monday, hitting $183.54. 13,020 shares of the company traded hands, compared to its average volume of 657,493. The company’s 50 day moving average price is $183.84 and its 200 day moving average price is $180.09. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 21.02 and a beta of 0.91.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 earnings per share.

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.