Baupost Group LLC MA Takes $18.81 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

Baupost Group LLC MA acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 105,764 shares of the information services provider’s stock, valued at approximately $18,805,000. VeriSign makes up 0.5% of Baupost Group LLC MA’s investment portfolio, making the stock its 23rd biggest holding. Baupost Group LLC MA owned approximately 0.11% of VeriSign as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of VeriSign by 291.1% in the second quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after buying an additional 131 shares during the last quarter. UMB Bank n.a. raised its holdings in VeriSign by 117.2% in the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 109 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of VeriSign during the 2nd quarter worth $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of VeriSign during the second quarter worth $39,000. Finally, Versant Capital Management Inc grew its position in shares of VeriSign by 55.7% in the second quarter. Versant Capital Management Inc now owns 327 shares of the information services provider’s stock valued at $58,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Trading Down 0.7 %

VRSN stock opened at $181.22 on Friday. The company has a market cap of $17.69 billion, a PE ratio of 22.26 and a beta of 0.90. The stock has a 50-day moving average price of $180.59 and a two-hundred day moving average price of $180.41. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $220.91.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.08. The firm had revenue of $387.10 million during the quarter, compared to the consensus estimate of $385.80 million. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 3,684 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at approximately $7,177,060. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Robert W. Baird reiterated a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th.

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.