Tidal Investments LLC Boosts Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Tidal Investments LLC boosted its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 54.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,175 shares of the information services provider's stock after buying an additional 9,619 shares during the period. Tidal Investments LLC's holdings in VeriSign were worth $5,162,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of VeriSign by 26.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 580,613 shares of the information services provider's stock worth $110,293,000 after buying an additional 120,958 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in VeriSign by 89.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 21,718 shares of the information services provider's stock worth $4,126,000 after purchasing an additional 10,277 shares during the period. Guardian Wealth Management Inc. increased its stake in VeriSign by 73.3% in the third quarter. Guardian Wealth Management Inc. now owns 19,051 shares of the information services provider's stock valued at $3,619,000 after purchasing an additional 8,055 shares in the last quarter. KBC Group NV increased its stake in VeriSign by 56.3% in the third quarter. KBC Group NV now owns 17,495 shares of the information services provider's stock valued at $3,323,000 after purchasing an additional 6,303 shares in the last quarter. Finally, Prudential PLC raised its holdings in shares of VeriSign by 50.4% during the second quarter. Prudential PLC now owns 69,563 shares of the information services provider's stock valued at $12,368,000 after purchasing an additional 23,306 shares during the period. Institutional investors own 92.90% of the company's stock.

VeriSign Trading Down 0.9 %

VeriSign stock traded down $1.70 during trading on Friday, hitting $197.40. 428,550 shares of the company were exchanged, compared to its average volume of 614,450. The company has a market capitalization of $18.97 billion, a P/E ratio of 22.95 and a beta of 0.92. The business's 50 day moving average is $186.05 and its 200 day moving average is $182.12. 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 posted its earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $390.19 million. During the same quarter in the prior year, the business posted $1.83 EPS. The business's revenue was up 3.8% compared to the same quarter last year.

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $190.00, for a total transaction of $466,640.00. Following the sale, the executive vice president now owns 34,821 shares of the company's stock, valued at $6,615,990. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $1,102,524 in the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRSN has been the subject of several research reports. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and raised their target price for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Finally, StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a research report on Tuesday.

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.