VeriSign, Inc. (NASDAQ:VRSN) Stake Cut by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,000 shares of the information services provider's stock after selling 130,171 shares during the period. Millennium Management LLC owned approximately 0.43% of VeriSign worth $84,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in VeriSign in the 4th quarter valued at $26,000. Crewe Advisors LLC purchased a new stake in VeriSign during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC raised its holdings in VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock valued at $38,000 after acquiring an additional 103 shares during the last quarter. BankPlus Trust Department purchased a new position in VeriSign in the 4th quarter worth approximately $49,000. Finally, Spire Wealth Management boosted its holdings in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock worth $52,000 after purchasing an additional 104 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on VRSN shares. StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Citigroup increased their price objective on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird upped their price target on VeriSign from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, April 25th.

Insider Transactions at VeriSign

In other VeriSign news, Director Yehuda Ari Buchalter sold 600 shares of VeriSign stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total value 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 approximately $1,059,955.65. The trade was a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Calys sold 400 shares of VeriSign stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $281.97, for a total value of $112,788.00. Following the completion of the sale, the senior vice president now owns 23,335 shares of the company's stock, valued at $6,579,769.95. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,447 shares of company stock valued at $386,654 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Stock Performance

Shares of VRSN stock traded down $0.38 during mid-day trading on Monday, hitting $281.99. 286,090 shares of the stock were exchanged, compared to its average volume of 753,108. VeriSign, Inc. has a 12-month low of $168.79 and a 12-month high of $288.95. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 35.25 and a beta of 0.80. The stock's fifty day simple moving average is $256.53 and its two-hundred day simple moving average is $224.44.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data 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 net margin of 50.47% and a negative return on equity of 43.01%. The firm had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. During the same period last year, the firm posted $1.92 EPS. VeriSign's quarterly revenue was up 4.7% on a year-over-year basis.

VeriSign Announces Dividend

The business also recently declared a -- dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend 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.