Amalgamated Bank Sells 601 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Amalgamated Bank trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,788 shares of the information services provider’s stock after selling 601 shares during the period. Amalgamated Bank’s holdings in VeriSign were worth $3,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRSN. ProShare Advisors LLC boosted its stake in shares of VeriSign by 0.3% during the 1st quarter. ProShare Advisors LLC now owns 21,513 shares of the information services provider’s stock worth $4,077,000 after purchasing an additional 62 shares during the period. Larson Financial Group LLC boosted its position in shares of VeriSign by 4.0% during the second quarter. Larson Financial Group LLC now owns 1,852 shares of the information services provider’s stock valued at $329,000 after buying an additional 71 shares during the period. V Square Quantitative Management LLC grew its stake in shares of VeriSign by 7.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,098 shares of the information services provider’s stock valued at $226,000 after buying an additional 74 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of VeriSign by 1.2% in the first quarter. Equitable Trust Co. now owns 7,227 shares of the information services provider’s stock worth $1,370,000 after buying an additional 87 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of VeriSign by 3.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,828 shares of the information services provider’s stock worth $503,000 after acquiring an additional 90 shares during the last quarter. 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 3,684 shares of VeriSign stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at $7,177,060. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

VeriSign Stock Up 0.7 %

VRSN opened at $182.55 on Tuesday. The stock’s fifty day moving average is $180.70 and its two-hundred day moving average is $180.18. The company has a market capitalization of $18.18 billion, a P/E ratio of 22.43 and a beta of 0.90. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $220.91.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRSN shares. Robert W. Baird reiterated a “neutral” rating and issued a $200.00 target price on shares of VeriSign in a research note on Thursday, June 27th. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

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.