Cape Cod Five Cents Savings Bank Sells 1,003 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Cape Cod Five Cents Savings Bank lowered its holdings in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,978 shares of the information services provider's stock after selling 1,003 shares during the quarter. Cape Cod Five Cents Savings Bank's holdings in VeriSign were worth $376,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Crewe Advisors LLC acquired a new position in VeriSign during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in shares of VeriSign in the fourth quarter worth about $26,000. Venturi Wealth Management LLC lifted its position in shares of VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after purchasing an additional 103 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of VeriSign during the fourth quarter worth approximately $49,000. Finally, Spire Wealth Management grew its stake in shares of VeriSign by 69.8% during the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock valued at $52,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 92.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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 boosted their target price on VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, Citigroup raised their price target on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th.

Insiders Place Their Bets

In related news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $280.40, for a total transaction of $1,402,000.00. Following the transaction, the chief executive officer now owns 553,625 shares of the company's stock, valued at $155,236,450. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yehuda Ari Buchalter sold 600 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total transaction of $170,274.00. Following the completion of the sale, the director now directly owns 3,735 shares of the company's stock, valued at $1,059,955.65. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,000 shares of company stock worth $2,246,382. Insiders own 0.84% of the company's stock.

VeriSign Trading Down 0.7%

Shares of VRSN traded down $2.10 on Monday, reaching $279.76. 556,585 shares of the company's stock were exchanged, compared to its average volume of 755,485. The stock has a market capitalization of $26.27 billion, a P/E ratio of 34.97 and a beta of 0.80. The business has a 50 day moving average price of $260.93 and a two-hundred day moving average price of $227.93. VeriSign, Inc. has a 12 month low of $168.79 and a 12 month high of $288.95.

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 analysts' consensus estimates of $2.10. The firm had revenue of $402.30 million during 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 business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS.

VeriSign Dividend Announcement

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

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.