Summit Trail Advisors LLC Has $456,000 Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Summit Trail Advisors LLC trimmed its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,565 shares of the information services provider’s stock after selling 308 shares during the period. Summit Trail Advisors LLC’s holdings in VeriSign were worth $456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC grew its stake in VeriSign by 0.3% in the 1st quarter. ProShare Advisors LLC now owns 21,513 shares of the information services provider’s stock valued at $4,077,000 after buying an additional 62 shares during the last quarter. Larson Financial Group LLC grew its position in shares of VeriSign by 4.0% in the second quarter. Larson Financial Group LLC now owns 1,852 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 71 shares during the last quarter. V Square Quantitative Management LLC increased 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 worth $226,000 after purchasing an additional 74 shares during the period. Equitable Trust Co. lifted its holdings in VeriSign by 1.2% during the 1st quarter. Equitable Trust Co. now owns 7,227 shares of the information services provider’s stock worth $1,370,000 after purchasing an additional 87 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in VeriSign by 3.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,828 shares of the information services provider’s stock valued at $503,000 after purchasing an additional 90 shares during the period. 92.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at VeriSign

In other news, EVP Thomas C. Indelicarto sold 3,684 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the transaction, the executive vice president now owns 37,774 shares of the company’s stock, valued at approximately $7,177,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.84% of the company’s stock.

VeriSign Stock Up 0.7 %

VRSN stock opened at $182.55 on Tuesday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $220.91. The business has a 50-day simple moving average of $180.70 and a 200 day simple moving average of $180.18. The company has a market cap of $18.18 billion, a PE ratio of 22.43 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.08. The company 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 firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.79 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.