VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in VeriSign, Inc. (NASDAQ:VRSN) by 34.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,403 shares of the information services provider’s stock after selling 739 shares during the quarter. Pitcairn Co.’s holdings in VeriSign were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of VRSN. Blue Trust Inc. increased its holdings in VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. UMB Bank n.a. boosted its position in shares of VeriSign by 117.2% in the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after buying an additional 109 shares during the period. Rothschild Investment LLC acquired a new stake in shares of VeriSign in the second quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in VeriSign during the 2nd quarter worth approximately $39,000. Finally, Concord Wealth Partners lifted its position in VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after acquiring an additional 109 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Stock Up 3.5 %

Shares of NASDAQ:VRSN opened at $191.63 on Thursday. The company has a market capitalization of $18.42 billion, a price-to-earnings ratio of 22.28 and a beta of 0.91. The company has a 50 day moving average of $184.12 and a two-hundred day moving average of $180.35. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. The firm had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 2,456 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

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.