Panagora Asset Management Inc. Has $1.48 Million Holdings in Verisign, Inc. (VRSN)

Panagora Asset Management Inc. lessened its holdings in shares of Verisign, Inc. (NASDAQ:VRSN) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,264 shares of the information services provider’s stock after selling 604 shares during the period. Panagora Asset Management Inc.’s holdings in Verisign were worth $1,483,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VRSN. Braun Bostich & Associates Inc. lifted its holdings in shares of Verisign by 1,283.3% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock worth $125,000 after acquiring an additional 847 shares during the period. Advisory Services Network LLC lifted its stake in Verisign by 954.9% in the 3rd quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock valued at $154,000 after purchasing an additional 869 shares during the last quarter. Cerebellum GP LLC bought a new position in Verisign in the 3rd quarter valued at approximately $181,000. Dowling & Yahnke LLC bought a new position in Verisign in the 3rd quarter valued at approximately $202,000. Finally, D.A. Davidson & CO. bought a new position in Verisign in the 3rd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.

In other news, EVP Thomas C. Indelicarto sold 3,300 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $150.81, for a total transaction of $497,673.00. Following the completion of the sale, the executive vice president now directly owns 55,871 shares in the company, valued at $8,425,905.51. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen A. Cote sold 2,384 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $160.50, for a total transaction of $382,632.00. Following the sale, the director now owns 37,594 shares of the company’s stock, valued at $6,033,837. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company’s stock.

Shares of NASDAQ VRSN opened at $152.67 on Friday. Verisign, Inc. has a 52-week low of $105.40 and a 52-week high of $176.76. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 41.49 and a beta of 0.99.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.13. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. The firm had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. Equities research analysts predict that Verisign, Inc. will post 4.37 earnings per share for the current year.

VRSN has been the subject of several recent research reports. Zacks Investment Research restated a “hold” rating on shares of Verisign in a research report on Saturday, November 17th. Robert W. Baird upgraded shares of Verisign from a “neutral” rating to an “outperform” rating and upped their price target for the company from $160.00 to $170.00 in a research report on Friday, November 2nd. BidaskClub cut shares of Verisign from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. upped their price target on shares of Verisign from $123.00 to $125.00 and gave the company an “average” rating in a research report on Monday, September 24th. Finally, Citigroup upped their price target on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Verisign currently has an average rating of “Hold” and an average price target of $154.40.

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Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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