Glenmede Trust Co. NA Sells 7,257 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Glenmede Trust Co. NA lowered its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 65.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,799 shares of the information services provider's stock after selling 7,257 shares during the quarter. Glenmede Trust Co. NA's holdings in VeriSign were worth $722,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the 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 transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction on 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 directly owns 34,821 shares of the company's stock, valued at $6,615,990. This 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 worth $1,102,524 in the last 90 days. Corporate insiders own 0.84% of the company's stock.

VeriSign Stock Down 1.1 %

VRSN traded down $2.15 during midday trading on Wednesday, reaching $185.84. 197,314 shares of the company's stock were exchanged, compared to its average volume of 662,675. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of 21.69 and a beta of 0.92. The business has a 50-day simple moving average of $184.70 and a two-hundred day simple moving average of $180.97.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly 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 business had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. VeriSign's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS.

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.