Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Posted by on Apr 15th, 2023

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,738 shares of the information services provider’s stock after selling 35,946 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of VeriSign worth $62,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concord Wealth Partners acquired a new stake in shares of VeriSign during the 4th quarter valued at approximately $25,000. Accurate Wealth Management LLC acquired a new position in VeriSign during the fourth quarter worth $29,000. General Partner Inc. purchased a new stake in VeriSign during the fourth quarter worth $31,000. Private Trust Co. NA purchased a new position in shares of VeriSign in the second quarter valued at $30,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of VeriSign in the 3rd quarter worth about $31,000. 91.21% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Trading Down 0.2 %

Shares of VRSN stock opened at $216.46 on Friday. VeriSign, Inc. has a twelve month low of $155.25 and a twelve month high of $224.56. The company has a market capitalization of $22.58 billion, a price-to-earnings ratio of 34.63 and a beta of 1.01. The firm has a 50-day moving average price of $204.54 and a 200 day moving average price of $199.48.

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

Wall Street Analysts Forecast Growth

VRSN has been the subject of several recent research reports. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Citigroup upped their target price on VeriSign from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Monday, February 13th.

Insiders Place Their Bets

In other news, CEO D James Bidzos sold 3,000 shares of VeriSign stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $214.87, for a total value of $644,610.00. Following the completion of the sale, the chief executive officer now owns 656,444 shares of the company’s stock, valued at $141,050,122.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Kathleen A. Cote sold 2,665 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $202.97, for a total transaction of $540,915.05. Following the transaction, the director now directly owns 28,759 shares in the company, valued at approximately $5,837,214.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO D James Bidzos sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $214.87, for a total transaction of $644,610.00. Following the completion of the sale, the chief executive officer now directly owns 656,444 shares in the company, valued at $141,050,122.28. The disclosure for this sale can be found here. Insiders have sold a total of 41,474 shares of company stock valued at $8,585,084 in the last quarter. 0.98% of the stock is currently owned by company insiders.

VeriSign Company Profile

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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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