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Denali Advisors LLC Has $607,000 Stock Position in VeriSign, Inc. $VRSN

VeriSign logo with Computer and Technology background

Denali Advisors LLC lowered its stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 34.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,103 shares of the information services provider's stock after selling 1,107 shares during the period. Denali Advisors LLC's holdings in VeriSign were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of VeriSign by 1.2% during the first quarter. Vanguard Group Inc. now owns 10,514,290 shares of the information services provider's stock valued at $2,669,263,000 after purchasing an additional 119,555 shares during the period. AQR Capital Management LLC raised its holdings in shares of VeriSign by 75.5% during the first quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider's stock valued at $586,417,000 after purchasing an additional 1,002,510 shares during the period. Amundi raised its holdings in shares of VeriSign by 71.3% during the first quarter. Amundi now owns 1,202,278 shares of the information services provider's stock valued at $307,098,000 after purchasing an additional 500,223 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of VeriSign by 5.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,157,422 shares of the information services provider's stock valued at $293,835,000 after purchasing an additional 60,293 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of VeriSign by 5.1% during the first quarter. Northern Trust Corp now owns 1,024,095 shares of the information services provider's stock valued at $259,987,000 after purchasing an additional 49,478 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

Insider Activity

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $262.92, for a total value of $131,722.92. Following the completion of the sale, the executive vice president owned 34,189 shares in the company, valued at approximately $8,988,971.88. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $264.06, for a total transaction of $528,120.00. Following the completion of the sale, the chief executive officer owned 469,439 shares of the company's stock, valued at approximately $123,960,062.34. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,706 shares of company stock valued at $10,591,676. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRSN shares. Citigroup restated a "buy" rating on shares of VeriSign in a report on Tuesday, July 8th. Weiss Ratings restated a "buy (b-)" rating on shares of VeriSign in a report on Wednesday, October 8th. Finally, Robert W. Baird upped their target price on shares of VeriSign from $285.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat, VeriSign has an average rating of "Buy" and a consensus price target of $277.50.

View Our Latest Report on VeriSign

VeriSign Stock Performance

NASDAQ:VRSN opened at $251.94 on Thursday. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 30.06 and a beta of 0.79. VeriSign, Inc. has a 52 week low of $175.62 and a 52 week high of $310.60. The firm has a 50-day moving average price of $274.47 and a two-hundred day moving average price of $274.28.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The information services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $2.20 by $0.01. The firm had revenue of $409.90 million during the quarter, compared to analyst estimates of $410.35 million. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS.

VeriSign declared that its board has authorized a share buyback plan on Thursday, July 24th that authorizes the company to buyback $1.11 billion in shares. This buyback authorization authorizes the information services provider to repurchase up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

VeriSign Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VeriSign, Inc. (NASDAQ:VRSN - Free Report).

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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