Pallas Capital Advisors LLC Purchases New Stake in VeriSign, Inc. (NASDAQ:VRSN)

Pallas Capital Advisors LLC purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,244 shares of the information services provider's stock, valued at approximately $576,000.

A number of other institutional investors have also modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of VeriSign in the fourth quarter valued at approximately $564,000. Louisiana State Employees Retirement System purchased a new stake in shares of VeriSign during the fourth quarter worth $1,112,000. Daiwa Securities Group Inc. increased its position in shares of VeriSign by 4.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,459 shares of the information services provider's stock worth $2,154,000 after acquiring an additional 484 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of VeriSign in the fourth quarter valued at $208,000. Finally, abrdn plc boosted its holdings in VeriSign by 35.3% in the fourth quarter. abrdn plc now owns 46,085 shares of the information services provider's stock valued at $9,492,000 after purchasing an additional 12,029 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on VRSN. Robert W. Baird restated a "neutral" rating and set a $200.00 price target on shares of VeriSign in a report on Thursday, June 27th. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Sunday, June 16th.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 3,684 shares of VeriSign stock in a transaction on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the sale, the executive vice president now directly owns 37,774 shares in the company, valued at approximately $7,177,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company's stock.

VeriSign Trading Up 0.9 %

NASDAQ:VRSN traded up $1.59 during trading hours on Wednesday, hitting $180.42. The company's stock had a trading volume of 519,829 shares, compared to its average volume of 682,371. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91. The stock has a market capitalization of $17.97 billion, a P/E ratio of 22.16 and a beta of 0.90. The stock has a fifty day moving average of $178.63 and a 200-day moving average of $182.39.

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

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.