Desjardins Global Asset Management Inc. Grows Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Desjardins Global Asset Management Inc. increased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,129 shares of the information services provider’s stock after buying an additional 68 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in VeriSign were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC purchased a new position in VeriSign during the fourth quarter worth about $25,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of VeriSign by 52.0% in 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 period. Eagle Bay Advisors LLC raised its holdings in shares of VeriSign by 2,628.6% in the 2nd quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock worth $32,000 after purchasing an additional 184 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of VeriSign in the 4th quarter worth about $36,000. Finally, Baldwin Brothers LLC MA raised its holdings in shares of VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock worth $37,000 after purchasing an additional 111 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRSN shares. Citigroup cut their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

Insider Buying and Selling at VeriSign

In other news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction that occurred on 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 owns 34,816 shares in the company, valued at approximately $6,930,124.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction that occurred on 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 owns 34,816 shares in the company, valued at approximately $6,930,124.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Danny R. Mcpherson sold 2,875 shares of VeriSign stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $194.19, for a total value of $558,296.25. Following the completion of the transaction, the executive vice president now owns 30,895 shares of the company’s stock, valued at approximately $5,999,500.05. The disclosure for this sale can be found here. Insiders sold a total of 16,877 shares of company stock worth $3,281,564 in the last 90 days. 0.94% of the stock is owned by corporate insiders.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $182.63 on Wednesday. The company has a market cap of $18.29 billion, a P/E ratio of 23.06 and a beta of 0.88. VeriSign, Inc. has a one year low of $182.38 and a one year high of $229.72. The business’s 50-day simple moving average is $191.59 and its 200 day simple moving average is $201.20.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.09. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. The firm had revenue of $380.40 million during the quarter, compared to analyst estimates of $381.01 million. Analysts predict that VeriSign, Inc. will post 7.82 earnings per share for the current 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.