Sequoia Financial Advisors LLC Raises Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Sequoia Financial Advisors LLC increased its position in VeriSign, Inc. (NASDAQ:VRSN) by 47.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,169 shares of the information services provider’s stock after buying an additional 702 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in VeriSign were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in VRSN. Resurgent Financial Advisors LLC purchased a new position in shares of VeriSign in the 4th quarter worth $25,000. Cary Street Partners Investment Advisory LLC raised its position in VeriSign by 52.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Eagle Bay Advisors LLC raised its position in VeriSign by 2,628.6% in the second quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock valued at $32,000 after purchasing an additional 184 shares during the period. Altshuler Shaham Ltd purchased a new position in VeriSign in the fourth quarter valued at about $36,000. Finally, Baldwin Brothers LLC MA raised its position in VeriSign by 158.6% in the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 111 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRSN has been the topic of several research reports. Citigroup cut their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd.

Insider Activity

In other news, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the sale, the executive vice president now directly owns 34,816 shares in the company, valued at $6,930,124.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the transaction, the executive vice president now directly owns 34,816 shares in the company, valued at $6,930,124.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now owns 42,569 shares of the company’s stock, valued at $8,088,110. The disclosure for this sale can be found here. Insiders sold 14,877 shares of company stock worth $2,878,864 over the last ninety days. Corporate insiders own 0.94% of the company’s stock.

VeriSign Price Performance

Shares of VeriSign stock opened at $181.57 on Thursday. The business has a 50-day moving average of $191.22 and a 200-day moving average of $201.06. The company has a market capitalization of $18.18 billion, a PE ratio of 22.93 and a beta of 0.88. VeriSign, Inc. has a 1-year low of $181.57 and a 1-year high of $229.72.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.09. The company had revenue of $380.40 million during the quarter, compared to the consensus estimate of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. On average, equities analysts expect that VeriSign, Inc. will post 7.82 earnings per share for the current fiscal year.

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.