Allianz Asset Management GmbH Buys 75,422 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Allianz Asset Management GmbH raised its stake in VeriSign, Inc. (NASDAQ:VRSNGet Rating) by 76.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,453 shares of the information services provider’s stock after acquiring an additional 75,422 shares during the quarter. Allianz Asset Management GmbH owned about 0.16% of VeriSign worth $44,026,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in VRSN. Morgan Stanley raised its holdings in VeriSign by 108.1% in the 2nd quarter. Morgan Stanley now owns 383,767 shares of the information services provider’s stock valued at $87,380,000 after acquiring an additional 199,381 shares during the period. Advisor Group Holdings Inc. increased its holdings in shares of VeriSign by 3.6% during the third quarter. Advisor Group Holdings Inc. now owns 3,560 shares of the information services provider’s stock worth $730,000 after purchasing an additional 124 shares during the period. Alliancebernstein L.P. increased its holdings in shares of VeriSign by 0.6% during the third quarter. Alliancebernstein L.P. now owns 137,188 shares of the information services provider’s stock worth $28,125,000 after purchasing an additional 825 shares during the period. Creative Planning increased its holdings in shares of VeriSign by 4.7% during the third quarter. Creative Planning now owns 6,226 shares of the information services provider’s stock worth $1,276,000 after purchasing an additional 280 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of VeriSign by 3.1% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 12,398 shares of the information services provider’s stock worth $2,542,000 after purchasing an additional 377 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of VeriSign in a report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird cut shares of VeriSign from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $210.00 in a report on Friday, April 29th.

Shares of NASDAQ:VRSN opened at $165.56 on Friday. The company’s 50 day simple moving average is $201.14 and its 200 day simple moving average is $219.43. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 23.29 and a beta of 1.01. VeriSign, Inc. has a 1 year low of $159.69 and a 1 year high of $257.03.

VeriSign (NASDAQ:VRSNGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The information services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.04. The business had revenue of $346.90 million for the quarter, compared to analysts’ expectations of $342.99 million. VeriSign had a net margin of 58.63% and a negative return on equity of 46.72%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, sell-side analysts predict that VeriSign, Inc. will post 5.95 EPS for the current fiscal year.

In other VeriSign news, CEO D James Bidzos sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $210.26, for a total value of $630,780.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $216.74, for a total transaction of $132,861.62. Following the transaction, the executive vice president now owns 46,193 shares in the company, valued at approximately $10,011,870.82. The disclosure for this sale can be found here. Insiders sold 14,748 shares of company stock worth $3,114,855 over the last three months. 0.98% of the stock is currently owned by insiders.

About VeriSign (Get Rating)

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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