Northwestern Mutual Wealth Management Co. Acquires 1,806 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 93.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,734 shares of the information services provider’s stock after purchasing an additional 1,806 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in VeriSign were worth $664,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its holdings 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 acquiring an additional 62 shares in the last quarter. Larson Financial Group LLC boosted its position in VeriSign by 4.0% in the 2nd 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 last quarter. V Square Quantitative Management LLC boosted its position in VeriSign by 7.2% in the 4th 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. Gateway Advisory LLC boosted its position in VeriSign by 5.6% in the 2nd quarter. Gateway Advisory LLC now owns 1,538 shares of the information services provider’s stock valued at $273,000 after buying an additional 81 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in VeriSign by 4.8% in the 2nd quarter. Profund Advisors LLC now owns 1,794 shares of the information services provider’s stock valued at $319,000 after buying an additional 82 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Down 1.4 %

VRSN stock opened at $184.37 on Tuesday. The business’s 50-day moving average price is $182.26 and its two-hundred day moving average price is $179.91. The firm has a market cap of $18.36 billion, a PE ratio of 22.70 and a beta of 0.90. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year 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 for the quarter, topping 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 period in the previous year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VRSN shares. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Robert W. Baird restated 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 VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at $6,615,990. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of VeriSign stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at $6,615,990. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 3,684 shares of VeriSign stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $190.00, for a total value of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares in the company, valued at $7,177,060. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

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.