32,174 Shares in VeriSign, Inc. (NASDAQ:VRSN) Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,174 shares of the information services provider's stock, valued at approximately $6,112,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRSN. Troy Asset Management Ltd bought a new position in shares of VeriSign during the second quarter valued at approximately $109,040,000. Mackenzie Financial Corp increased its stake in shares of VeriSign by 836.8% in the second quarter. Mackenzie Financial Corp now owns 473,187 shares of the information services provider's stock worth $84,133,000 after acquiring an additional 422,676 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of VeriSign in the second quarter worth $67,914,000. Canoe Financial LP acquired a new position in VeriSign during the third quarter worth $46,455,000. Finally, AQR Capital Management LLC boosted its holdings in VeriSign by 44.5% during the second quarter. AQR Capital Management LLC now owns 788,687 shares of the information services provider's stock valued at $139,771,000 after acquiring an additional 242,884 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Stock Down 0.3 %

VRSN traded down $0.63 during midday trading on Thursday, reaching $184.36. 650,058 shares of the company's stock were exchanged, compared to its average volume of 663,070. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 21.51 and a beta of 0.91. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91. The business has a 50-day simple moving average of $183.91 and a two-hundred day simple moving average of $179.45.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.06. The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 1,228 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the sale, the executive vice president now owns 33,593 shares of the company's stock, valued at approximately $6,382,670. This represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by company insiders.

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.