Tri Ri Asset Management Corp Buys Shares of 27,394 VeriSign, Inc. (NASDAQ:VRSN)

Tri Ri Asset Management Corp bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 27,394 shares of the information services provider’s stock, valued at approximately $5,204,000. VeriSign comprises approximately 2.7% of Tri Ri Asset Management Corp’s holdings, making the stock its 15th biggest holding.

A number of other large investors also recently bought and sold shares of VRSN. Blue Trust Inc. lifted its position in 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. lifted its position in VeriSign by 117.2% in the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Rothschild Investment LLC acquired a new position in VeriSign in the second quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in VeriSign in the second quarter valued at about $39,000. Finally, Concord Wealth Partners lifted its position in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the completion of the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Danny R. Mcpherson sold 2,092 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the sale, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,776 shares of company stock worth $1,102,524 over the last three months. Insiders own 0.84% of the company’s stock.

VeriSign Stock Performance

VRSN stock opened at $199.10 on Friday. The company’s 50 day moving average price is $185.84 and its 200 day moving average price is $181.94. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $220.91. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 23.15 and a beta of 0.92.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. The company had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VRSN shares. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $200.00 to $250.00 in a research report on Monday. Finally, StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.