Tri Ri Asset Management Corp Takes $5.20 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

Tri Ri Asset Management Corp acquired a new position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,394 shares of the information services provider's stock, valued at approximately $5,204,000. VeriSign accounts for approximately 2.7% of Tri Ri Asset Management Corp's portfolio, making the stock its 15th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider's stock worth $33,000 after acquiring an additional 131 shares during the last quarter. UMB Bank n.a. lifted its position in shares of VeriSign by 117.2% during the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider's stock valued at $36,000 after buying an additional 109 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of VeriSign during the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in VeriSign in the 2nd quarter worth approximately $39,000. Finally, Concord Wealth Partners raised its stake in VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock worth $43,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company's stock, valued at $6,382,670. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Danny R. Mcpherson sold 2,092 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, the executive vice president now owns 26,157 shares in the company, valued at $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,776 shares of company stock worth $1,102,524. Insiders own 0.84% of the company's stock.

VeriSign Trading Down 0.9 %

Shares of NASDAQ VRSN traded down $1.70 during trading hours on Friday, hitting $197.40. 428,517 shares of the company traded hands, compared to its average volume of 660,810. The company's 50 day moving average price is $185.84 and its 200 day moving average price is $181.94. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 23.15 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRSN. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $200.00 to $250.00 in a research note on Monday. Finally, StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research report on Tuesday.

VeriSign 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.