VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC trimmed its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,216 shares of the information services provider’s stock after selling 775 shares during the quarter. Pallas Capital Advisors LLC’s holdings in VeriSign were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. lifted its stake in VeriSign by 0.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,472,803 shares of the information services provider’s stock valued at $261,864,000 after purchasing an additional 11,606 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of VeriSign by 44.5% in the second quarter. AQR Capital Management LLC now owns 788,687 shares of the information services provider’s stock valued at $139,771,000 after buying an additional 242,884 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of VeriSign by 7.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 693,369 shares of the information services provider’s stock valued at $131,712,000 after acquiring an additional 47,412 shares during the last quarter. Troy Asset Management Ltd bought a new stake in shares of VeriSign during the 2nd quarter worth $109,040,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of VeriSign by 26.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 580,613 shares of the information services provider’s stock worth $110,293,000 after acquiring an additional 120,958 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the company’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 transaction, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company’s stock.

VeriSign Trading Up 1.2 %

NASDAQ:VRSN opened at $209.56 on Tuesday. The business’s fifty day moving average price is $194.30 and its 200 day moving average price is $185.94. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of 24.37 and a beta of 0.89. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $213.68.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and upped their target price for the company from $200.00 to $250.00 in a report on Monday, December 9th. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Citigroup lifted their target price on shares of VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

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.