Cumberland Partners Ltd Buys Shares of 1,000 VeriSign, Inc. (NASDAQ:VRSN)

Cumberland Partners Ltd bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the information services provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VRSN. CWM LLC grew its stake in shares of VeriSign by 12.4% in the 3rd quarter. CWM LLC now owns 2,900 shares of the information services provider’s stock valued at $587,000 after purchasing an additional 321 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of VeriSign by 6.1% in the 3rd quarter. HB Wealth Management LLC now owns 1,625 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 93 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of VeriSign in the 3rd quarter valued at approximately $310,000. Flagship Harbor Advisors LLC boosted its stake in shares of VeriSign by 5.6% in the third quarter. Flagship Harbor Advisors LLC now owns 1,291 shares of the information services provider’s stock valued at $261,000 after buying an additional 69 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of VeriSign by 91.7% in the third quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after buying an additional 166 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Todd B. Strubbe sold 9,423 shares of VeriSign stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the transaction, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the transaction, the executive vice president now directly owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the transaction, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,877 shares of company stock valued at $2,878,864. 0.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRSN. Citigroup decreased their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

VeriSign Stock Performance

VRSN stock traded down $0.10 during midday trading on Wednesday, hitting $185.02. 464,725 shares of the stock were exchanged, compared to its average volume of 573,768. The stock’s 50-day moving average price is $190.16 and its 200-day moving average price is $200.48. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 23.37 and a beta of 0.88. VeriSign, Inc. has a fifty-two week low of $181.01 and a fifty-two week high of $229.72.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 8th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.09. The firm had revenue of $380.40 million during the quarter, compared to analysts’ expectations of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. Research analysts anticipate that VeriSign, Inc. will post 7.82 EPS for the current year.

VeriSign Profile

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.