Dai ichi Life Insurance Company Ltd Lowers Stake in VeriSign, Inc. (NASDAQ:VRSN)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,697 shares of the information services provider’s stock after selling 4,127 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in VeriSign were worth $4,312,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VRSN. Troy Asset Management Ltd purchased a new stake in shares of VeriSign during the second quarter valued at $109,040,000. Mackenzie Financial Corp lifted its stake in VeriSign by 836.8% in the second quarter. Mackenzie Financial Corp now owns 473,187 shares of the information services provider’s stock worth $84,133,000 after acquiring an additional 422,676 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in VeriSign in the second quarter worth about $67,914,000. Canoe Financial LP purchased a new stake in VeriSign in the third quarter worth about $46,455,000. Finally, AQR Capital Management LLC lifted its stake in VeriSign by 44.5% in the second quarter. AQR Capital Management LLC now owns 788,687 shares of the information services provider’s stock worth $139,771,000 after acquiring an additional 242,884 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Price Performance

NASDAQ:VRSN opened at $185.16 on Wednesday. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91. The company has a 50-day moving average of $183.87 and a 200 day moving average of $180.27. The firm has a market cap of $17.79 billion, a PE ratio of 21.53 and a beta of 0.91.

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

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 34,821 shares in the company, valued at approximately $6,615,990. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.84% of the stock is owned by insiders.

VeriSign Company 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.