Free Trial

VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Principal Financial Group Inc.

VeriSign logo with Computer and Technology background

Principal Financial Group Inc. cut its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 49.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,207 shares of the information services provider's stock after selling 1,054,462 shares during the quarter. Principal Financial Group Inc. owned approximately 1.12% of VeriSign worth $203,676,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Troy Asset Management Ltd purchased a new stake in VeriSign in the 2nd quarter valued at about $109,040,000. Mackenzie Financial Corp grew its holdings in VeriSign by 836.8% in the second quarter. Mackenzie Financial Corp now owns 473,187 shares of the information services provider's stock valued at $84,133,000 after purchasing an additional 422,676 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in VeriSign during the second quarter worth approximately $67,914,000. Canoe Financial LP purchased a new position in VeriSign during the third quarter worth approximately $46,455,000. Finally, AQR Capital Management LLC raised its stake 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 worth $139,771,000 after purchasing an additional 242,884 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Stock Up 2.8 %

Shares of VRSN stock traded up $5.40 during mid-day trading on Friday, reaching $198.84. The company's stock had a trading volume of 1,730,837 shares, compared to its average volume of 664,077. The firm has a market capitalization of $19.11 billion, a PE ratio of 23.12 and a beta of 0.92. The company's 50 day simple moving average is $186.70 and its 200-day simple moving average is $182.75. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $208.04.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on VRSN shares. StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Finally, Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $200.00 to $250.00 in a report on Monday, December 9th.

Check Out Our Latest Stock Analysis on VRSN

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at $6,382,670. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Danny R. Mcpherson sold 2,092 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now directly owns 26,157 shares in the company, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,776 shares of company stock valued at $1,102,524. Corporate insiders own 0.84% of the company's stock.

About VeriSign

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

Should you invest $1,000 in VeriSign right now?

Before you consider VeriSign, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and VeriSign wasn't on the list.

While VeriSign currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Future of Healthcare: 3 AI Stocks Leading the Way
Analysts Predict Big Gains for These 3 Cybersecurity Leaders
This Investment Strategy Has the Highest Payout Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines