Lindbrook Capital LLC Grows Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Posted by on Apr 6th, 2023

Lindbrook Capital LLC raised its position in shares of VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 966 shares of the information services provider’s stock after purchasing an additional 146 shares during the period. Lindbrook Capital LLC’s holdings in VeriSign were worth $198,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Accurate Wealth Management LLC bought a new position in shares of VeriSign during the fourth quarter valued at about $29,000. Private Trust Co. NA bought a new position in shares of VeriSign during the second quarter valued at about $30,000. Guardian Wealth Advisors LLC bought a new position in shares of VeriSign during the third quarter valued at about $31,000. General Partner Inc. bought a new position in shares of VeriSign during the fourth quarter valued at about $31,000. Finally, Eagle Bay Advisors LLC grew its stake in shares of VeriSign by 2,628.6% during the second quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock valued at $32,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.

VeriSign Price Performance

NASDAQ VRSN opened at $212.44 on Thursday. The stock has a market capitalization of $22.28 billion, a PE ratio of 33.99 and a beta of 1.01. VeriSign, Inc. has a 1 year low of $155.25 and a 1 year high of $224.56. The business’s 50-day moving average is $205.20 and its 200 day moving average is $197.73.

VeriSign (NASDAQ:VRSN – Get Rating) last posted its earnings results on Thursday, February 9th. The information services provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.17. VeriSign had a negative return on equity of 46.13% and a net margin of 47.30%. The company had revenue of $369.20 million for the quarter, compared to analysts’ expectations of $366.10 million. During the same period last year, the firm earned $1.48 earnings per share. VeriSign’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that VeriSign, Inc. will post 6.74 earnings per share for the current year.

Insiders Place Their Bets

In other VeriSign news, EVP Danny R. Mcpherson sold 125 shares of the firm’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $201.88, for a total value of $25,235.00. Following the completion of the sale, the executive vice president now directly owns 27,536 shares in the company, valued at $5,558,967.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other VeriSign news, EVP Danny R. Mcpherson sold 125 shares of the firm’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $201.88, for a total value of $25,235.00. Following the completion of the sale, the executive vice president now directly owns 27,536 shares in the company, valued at $5,558,967.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas C. Indelicarto sold 614 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $200.00, for a total transaction of $122,800.00. Following the completion of the sale, the executive vice president now owns 45,799 shares of the company’s stock, valued at $9,159,800. The disclosure for this sale can be found here. Insiders sold 62,473 shares of company stock worth $12,975,131 over the last three months. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

VRSN has been the topic of a number of recent research reports. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $216.00 to $265.00 in a research note on Thursday, December 15th. Citigroup raised their target price on VeriSign from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research note on Thursday, March 30th.

About VeriSign

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VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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