Cwm LLC Sells 167 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Cwm LLC lowered its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,793 shares of the information services provider’s stock after selling 167 shares during the quarter. Cwm LLC’s holdings in VeriSign were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of VRSN. Cary Street Partners Investment Advisory LLC boosted its stake in shares of VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after purchasing an additional 52 shares during the period. Baldwin Brothers LLC MA raised its position in VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock worth $37,000 after purchasing an additional 111 shares during the period. Quarry LP purchased a new stake in VeriSign in the 4th quarter worth about $76,000. Neo Ivy Capital Management purchased a new stake in VeriSign in the 4th quarter worth about $77,000. Finally, CX Institutional purchased a new stake in VeriSign in the 4th quarter worth about $79,000. Institutional investors own 92.90% of the company’s stock.

Insider Activity

In other news, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the transaction, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other VeriSign news, Director Yehuda Ari Buchalter sold 866 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $170.01, for a total value of $147,228.66. Following the completion of the sale, the director now directly owns 3,661 shares in the company, valued at $622,406.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas C. Indelicarto sold 614 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the completion of the sale, the executive vice president now owns 41,955 shares of the company’s stock, valued at $7,971,450. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,295 shares of company stock worth $584,887. Corporate insiders own 0.84% of the company’s stock.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $181.69 on Friday. The firm has a market cap of $18.10 billion, a PE ratio of 22.32 and a beta of 0.91. The firm’s 50 day simple moving average is $175.94 and its 200-day simple moving average is $190.62. VeriSign, Inc. has a one year low of $167.04 and a one year high of $226.80.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The business had revenue of $384.30 million for the quarter, compared to analyst estimates of $381.85 million. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.70 earnings per share.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Robert W. Baird reduced their price objective on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th.

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.