Gateway Investment Advisers LLC Buys 1,566 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Gateway Investment Advisers LLC lifted its stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,679 shares of the information services provider's stock after purchasing an additional 1,566 shares during the period. Gateway Investment Advisers LLC owned 0.09% of VeriSign worth $22,767,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Cache Advisors LLC purchased a new stake in VeriSign in the fourth quarter worth $685,000. Allspring Global Investments Holdings LLC grew its stake in shares of VeriSign by 322.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock worth $53,639,000 after acquiring an additional 199,583 shares during the period. Truist Financial Corp increased its holdings in VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock worth $4,235,000 after acquiring an additional 2,218 shares during the last quarter. Berkshire Hathaway Inc raised its stake in VeriSign by 3.6% in the 4th quarter. Berkshire Hathaway Inc now owns 13,271,457 shares of the information services provider's stock valued at $2,746,661,000 after acquiring an additional 455,844 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in VeriSign in the 4th quarter valued at about $600,000. Institutional investors own 92.90% of the company's stock.

Insider Buying and Selling at VeriSign

In related news, SVP John Calys sold 400 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $281.97, for a total value of $112,788.00. Following the sale, the senior vice president now owns 23,335 shares in the company, valued at approximately $6,579,769.95. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 501 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $275.44, for a total value of $137,995.44. Following the transaction, the executive vice president now owns 39,272 shares of the company's stock, valued at approximately $10,817,079.68. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,002 shares of company stock valued at $2,525,659 in the last three months. Company insiders own 0.84% of the company's stock.

VeriSign Stock Performance

NASDAQ:VRSN opened at $285.02 on Friday. The business's fifty day moving average is $266.20 and its 200 day moving average is $233.66. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 35.63 and a beta of 0.80. VeriSign, Inc. has a 52-week low of $172.49 and a 52-week high of $288.95.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share for the quarter, meeting analysts' consensus estimates of $2.10. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%. The business had revenue of $402.30 million during the quarter, compared to analyst estimates of $400.44 million. During the same quarter in the previous year, the firm earned $1.92 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year.

VeriSign Dividend Announcement

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a $0.77 dividend. The ex-dividend date was Monday, May 19th. VeriSign's dividend payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

VRSN has been the subject of a number of research reports. Wall Street Zen upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Robert W. Baird raised their price objective on shares of VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, April 25th.

VeriSign 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.

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