Desjardins Global Asset Management Inc. Has $823,000 Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Posted by Defense World Staff on Jul 25th, 2023

Desjardins Global Asset Management Inc. raised its position in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 21.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,897 shares of the information services provider’s stock after purchasing an additional 690 shares during the period. Desjardins Global Asset Management Inc.’s holdings in VeriSign were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners acquired a new position in shares of VeriSign during the fourth quarter worth $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of VeriSign during the fourth quarter worth $25,000. Capital Directions Investment Advisors LLC acquired a new position in shares of VeriSign during the fourth quarter worth $28,000. IFP Advisors Inc increased its holdings in shares of VeriSign by 88.8% during the first quarter. IFP Advisors Inc now owns 708 shares of the information services provider’s stock worth $28,000 after buying an additional 333 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings 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 worth $32,000 after buying an additional 184 shares in the last quarter. 90.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird downgraded shares of VeriSign from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $265.00 to $245.00 in a report on Tuesday, July 11th. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a report on Friday. Finally, Citigroup decreased their price objective on VeriSign from $252.00 to $249.00 and set a “buy” rating for the company in a report on Monday.

VeriSign Trading Down 0.9 %

Shares of VRSN opened at $211.88 on Tuesday. The stock has a market capitalization of $22.06 billion, a P/E ratio of 32.50 and a beta of 0.99. The firm’s fifty day simple moving average is $221.69 and its two-hundred day simple moving average is $214.16. VeriSign, Inc. has a 12 month low of $169.24 and a 12 month high of $229.72.

VeriSign (NASDAQ:VRSN – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The information services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $367.32 million. VeriSign had a net margin of 48.20% and a negative return on equity of 45.19%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. As a group, research analysts predict that VeriSign, Inc. will post 6.91 EPS for the current fiscal year.

Insider Buying and Selling at VeriSign

In other VeriSign news, CEO D James Bidzos sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $219.11, for a total transaction of $920,262.00. Following the sale, the chief executive officer now owns 636,610 shares of the company’s stock, valued at $139,487,617.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO D James Bidzos sold 4,200 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $219.11, for a total transaction of $920,262.00. Following the transaction, the chief executive officer now owns 636,610 shares of the company’s stock, valued at approximately $139,487,617.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $224.75, for a total transaction of $137,996.50. Following the transaction, the executive vice president now directly owns 41,727 shares in the company, valued at approximately $9,378,143.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,509 shares of company stock valued at $9,826,245. 0.94% of the stock is currently owned by insiders.

VeriSign Profile

(Free Report)

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 the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.