Atlantic Union Bankshares Corp Raises Stake in VeriSign, Inc. (NASDAQ:VRSN)

Atlantic Union Bankshares Corp increased its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 26.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,783 shares of the information services provider's stock after purchasing an additional 2,029 shares during the quarter. Atlantic Union Bankshares Corp's holdings in VeriSign were worth $1,739,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Palo DS Manager LLC purchased a new stake in VeriSign in the 4th quarter worth $14,174,000. TD Asset Management Inc increased its stake in VeriSign by 51.2% in the 4th quarter. TD Asset Management Inc now owns 330,291 shares of the information services provider's stock worth $68,027,000 after buying an additional 111,911 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in VeriSign in the 4th quarter worth $204,000. AGF Management Ltd. increased its stake in VeriSign by 614.0% in the 4th quarter. AGF Management Ltd. now owns 15,672 shares of the information services provider's stock worth $3,228,000 after buying an additional 13,477 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in VeriSign by 21.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,224 shares of the information services provider's stock worth $20,320,000 after buying an additional 19,215 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Price Performance

Shares of VeriSign stock traded down $0.75 during trading on Friday, reaching $179.32. 363,290 shares of the stock traded hands, compared to its average volume of 781,350. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 22.03 and a beta of 0.90. The business has a fifty day simple moving average of $178.62 and a two-hundred day simple moving average of $182.00. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91.

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

Insider Activity

In related 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 value of $699,960.00. Following the completion of the transaction, the executive vice president now owns 37,774 shares of the company's stock, valued at approximately $7,177,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VRSN shares. Robert W. Baird reiterated a "neutral" rating and issued a $200.00 price target on shares of VeriSign in a research note on Thursday, June 27th. StockNews.com lowered VeriSign from a "buy" rating to a "hold" rating in a research report on Sunday, June 16th.

About VeriSign

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.