OVERSEA CHINESE BANKING Corp Ltd Decreases Stake in VeriSign, Inc. (NASDAQ:VRSN)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 41.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,110 shares of the information services provider’s stock after selling 770 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in VeriSign were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRSN. Cary Street Partners Investment Advisory LLC boosted its holdings in VeriSign by 52.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after buying an additional 52 shares during the period. Baldwin Brothers LLC MA grew its position in shares of VeriSign by 158.6% in the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 111 shares in the last quarter. UMB Bank n.a. raised its stake in shares of VeriSign by 91.7% during the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC lifted its holdings in VeriSign by 251.5% during the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock worth $72,000 after purchasing an additional 254 shares in the last quarter. Finally, CX Institutional bought a new position in VeriSign in the 4th quarter worth about $79,000. Institutional investors own 92.90% of the company’s stock.

VeriSign Price Performance

Shares of VRSN opened at $184.74 on Tuesday. VeriSign, Inc. has a 1-year low of $181.57 and a 1-year high of $229.72. The company has a market capitalization of $18.50 billion, a P/E ratio of 23.33 and a beta of 0.88. The firm’s 50 day simple moving average is $190.35 and its 200 day simple moving average is $200.63.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.09. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. The firm had revenue of $380.40 million for the quarter, compared to analysts’ expectations of $381.01 million. On average, equities analysts anticipate that VeriSign, Inc. will post 7.82 earnings per share for the current year.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total transaction of $119,737.29. Following the transaction, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other VeriSign news, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the sale, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the transaction, the executive vice president now directly owns 43,143 shares in the company, valued at $8,427,122.19. The disclosure for this sale can be found here. In the last three months, insiders sold 14,877 shares of company stock worth $2,878,864. 0.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VRSN shares. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup decreased their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

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.