GAMMA Investing LLC Has $176.98 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

GAMMA Investing LLC lifted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 34,326.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,127 shares of the information services provider's stock after buying an additional 695,102 shares during the quarter. GAMMA Investing LLC owned about 0.74% of VeriSign worth $176,980,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in VeriSign by 2.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,960 shares of the information services provider's stock valued at $406,000 after purchasing an additional 48 shares during the period. HighTower Advisors LLC lifted its stake in VeriSign by 1.8% in the fourth quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider's stock valued at $674,000 after buying an additional 56 shares in the last quarter. True Wealth Design LLC lifted its stake in VeriSign by 11.9% in the fourth quarter. True Wealth Design LLC now owns 573 shares of the information services provider's stock valued at $119,000 after buying an additional 61 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in VeriSign by 4.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider's stock valued at $304,000 after buying an additional 64 shares in the last quarter. Finally, Western Wealth Management LLC lifted its stake in VeriSign by 3.9% in the fourth quarter. Western Wealth Management LLC now owns 1,905 shares of the information services provider's stock valued at $394,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

Insider Transactions at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $275.44, for a total transaction of $137,995.44. Following the sale, the executive vice president now directly owns 39,272 shares of the company's stock, valued at approximately $10,817,079.68. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John Calys sold 400 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $281.97, for a total transaction of $112,788.00. Following the sale, the senior vice president now directly owns 23,335 shares in the company, valued at $6,579,769.95. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,002 shares of company stock valued at $2,525,659 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

VeriSign Price Performance

VRSN traded up $3.40 during trading on Thursday, reaching $277.89. The company had a trading volume of 708,066 shares, compared to its average volume of 757,034. The business's fifty day moving average price is $265.60 and its 200 day moving average price is $232.92. The company has a market cap of $26.09 billion, a P/E ratio of 34.74 and a beta of 0.80. VeriSign, Inc. has a 12 month low of $172.49 and a 12 month high of $288.95.

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

VeriSign Dividend Announcement

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

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.