Sigma Planning Corp Sells 11,655 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Sigma Planning Corp lessened its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 86.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,835 shares of the information services provider’s stock after selling 11,655 shares during the quarter. Sigma Planning Corp’s holdings in VeriSign were worth $378,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its holdings in VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Modera Wealth Management LLC raised its holdings in VeriSign by 3.6% during the 3rd quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock worth $349,000 after purchasing an additional 60 shares during the last quarter. CWM LLC raised its holdings in VeriSign by 2.1% during the 4th quarter. CWM LLC now owns 2,960 shares of the information services provider’s stock worth $610,000 after purchasing an additional 60 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in VeriSign by 0.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,571 shares of the information services provider’s stock worth $1,736,000 after purchasing an additional 65 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. raised its holdings in VeriSign by 1.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 6,129 shares of the information services provider’s stock worth $1,262,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on VRSN. Robert W. Baird reduced their price objective on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday. Citigroup reduced their price objective on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd.

VeriSign Price Performance

NASDAQ VRSN opened at $175.48 on Friday. VeriSign, Inc. has a one year low of $174.51 and a one year high of $229.72. The business’s fifty day moving average is $189.29 and its 200-day moving average is $200.03. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 21.56 and a beta of 0.88.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.06. The business had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. VeriSign had a negative return on equity of 47.39% and a net margin of 55.04%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 EPS.

Insider Transactions at VeriSign

In other news, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the transaction, the chief operating officer now owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas C. Indelicarto sold 613 shares of the business’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 transaction, the executive vice president now owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total value of $1,820,617.83. Following the transaction, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at approximately $21,552,768.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,877 shares of company stock valued at $2,878,864. 0.94% of the stock is owned by corporate insiders.

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.