Sumitomo Mitsui Trust Holdings Inc. Has $42.14 Million Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,992 shares of the information services provider's stock after selling 25,995 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of VeriSign worth $42,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of VeriSign by 291.1% in the second quarter. Blue Trust Inc. now owns 176 shares of the information services provider's stock worth $33,000 after acquiring an additional 131 shares during the period. Versant Capital Management Inc boosted its position in VeriSign by 55.7% during the second quarter. Versant Capital Management Inc now owns 327 shares of the information services provider's stock valued at $58,000 after buying an additional 117 shares during the period. Quarry LP bought a new position in VeriSign during the 4th quarter worth approximately $76,000. Neo Ivy Capital Management bought a new position in shares of VeriSign in the fourth quarter worth approximately $77,000. Finally, GAMMA Investing LLC purchased a new position in shares of VeriSign in the fourth quarter valued at about $97,000. Institutional investors own 92.90% of the company's stock.

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 3,684 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares of the company's stock, valued at $7,177,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VRSN shares. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Sunday, June 16th. Robert W. Baird restated a "neutral" rating and issued a $200.00 price target on shares of VeriSign in a research note on Thursday, June 27th.

VeriSign Trading Up 1.6 %

VRSN traded up $2.95 during trading hours on Monday, hitting $182.81. The company's stock had a trading volume of 859,117 shares, compared to its average volume of 683,371. The stock has a market cap of $18.21 billion, a price-to-earnings ratio of 22.10 and a beta of 0.90. The business's 50-day moving average price is $178.63 and its 200-day moving average price is $182.67. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.08. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The firm had revenue of $387.10 million during the quarter, compared to analyst estimates of $385.80 million. During the same quarter last year, the business earned $1.79 EPS. The business's revenue was up 4.1% on a year-over-year basis.

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.