Shariaportfolio Inc. Invests $1.87 Million in VeriSign, Inc. (NASDAQ:VRSN)

Shariaportfolio Inc. purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 9,866 shares of the information services provider’s stock, valued at approximately $1,874,000. VeriSign makes up 1.0% of Shariaportfolio Inc.’s investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after acquiring an additional 131 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 in the last quarter. Rothschild Investment LLC bought a new position in shares of VeriSign in the 2nd quarter valued at approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of VeriSign in the 2nd quarter valued at approximately $39,000. Finally, Tobam raised its stake in shares of VeriSign by 61.1% in the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock valued at $59,000 after acquiring an additional 118 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Stock Down 0.3 %

VRSN opened at $187.17 on Tuesday. The firm has a market capitalization of $18.64 billion, a P/E ratio of 22.99 and a beta of 0.90. The stock’s 50 day moving average price is $183.46 and its two-hundred day moving average price is $179.74. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $220.91.

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

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reissued a “neutral” rating and issued a $200.00 price objective on shares of VeriSign in a research note on Thursday, June 27th.

Insider Transactions at VeriSign

In other news, EVP Thomas C. Indelicarto sold 1,228 shares of VeriSign stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company’s stock, valued at approximately $6,382,670. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas C. Indelicarto sold 1,228 shares of VeriSign stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company’s stock, valued at approximately $6,382,670. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction on Friday, September 27th. The shares were 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 directly owns 34,821 shares in the company, valued at approximately $6,615,990. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,368 shares of company stock valued at $1,399,920. 0.84% of the stock is owned by corporate insiders.

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.