VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,809 shares of the information services provider's stock after selling 15,378 shares during the period. Los Angeles Capital Management LLC owned approximately 0.14% of VeriSign worth $32,955,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in VeriSign by 2.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider's stock worth $382,000 after purchasing an additional 37 shares during the period. Cromwell Holdings LLC lifted its stake in VeriSign by 32.3% in the first quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock worth $44,000 after acquiring an additional 42 shares during the period. Hohimer Wealth Management LLC lifted its stake in VeriSign by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 14,461 shares of the information services provider's stock worth $3,671,000 after acquiring an additional 43 shares during the period. HighTower Advisors LLC raised its holdings in VeriSign by 1.8% in the fourth quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider's stock worth $674,000 after purchasing an additional 56 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of VeriSign by 17.0% during the first quarter. IFP Advisors Inc now owns 406 shares of the information services provider's stock valued at $103,000 after acquiring an additional 59 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VRSN has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Citigroup reissued a "buy" rating on shares of VeriSign in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th.

VeriSign Stock Down 0.0%

NASDAQ:VRSN traded down $0.07 on Thursday, reaching $289.30. The company's stock had a trading volume of 195,583 shares, compared to its average volume of 821,243. VeriSign, Inc. has a 12-month low of $172.49 and a 12-month high of $291.54. The stock has a 50 day moving average price of $281.48 and a 200 day moving average price of $253.75. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 35.37 and a beta of 0.78.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.10 EPS for the quarter, hitting the consensus estimate of $2.10. The firm had revenue of $402.30 million during the quarter, compared to analysts' expectations of $400.44 million. VeriSign had a negative return on equity of 41.37% and a net margin of 50.23%. VeriSign's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS.

Insider Transactions at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $287.10, for a total transaction of $143,837.10. Following the completion of the sale, the executive vice president directly owned 37,769 shares of the company's stock, valued at $10,843,479.90. This represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $281.35, for a total value of $562,700.00. Following the transaction, the chief executive officer directly owned 515,772 shares of the company's stock, valued at approximately $145,112,452.20. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,004 shares of company stock valued at $11,278,592. Insiders own 0.84% of the company's stock.

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.