VeriSign, Inc. $VRSN Shares Sold by Te Ahumairangi Investment Management Ltd

by · The Markets Daily

Te Ahumairangi Investment Management Ltd lowered its stake in VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,251 shares of the information services provider’s stock after selling 1,275 shares during the quarter. VeriSign comprises about 2.4% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 6th biggest holding. Te Ahumairangi Investment Management Ltd owned about 0.05% of VeriSign worth $13,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Employees Retirement System of Texas purchased a new stake in shares of VeriSign in the 2nd quarter valued at approximately $6,340,000. Choreo LLC increased its holdings in VeriSign by 15.9% in the 2nd quarter. Choreo LLC now owns 1,855 shares of the information services provider’s stock valued at $536,000 after purchasing an additional 255 shares during the last quarter. Russell Investments Group Ltd. raised its position in VeriSign by 21.6% in the second quarter. Russell Investments Group Ltd. now owns 383,179 shares of the information services provider’s stock valued at $110,657,000 after purchasing an additional 68,029 shares during the period. XTX Topco Ltd acquired a new position in VeriSign during the second quarter worth $3,726,000. Finally, Summit Global Investments boosted its position in shares of VeriSign by 228.6% during the second quarter. Summit Global Investments now owns 17,328 shares of the information services provider’s stock worth $5,004,000 after buying an additional 12,055 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $255.68 on Wednesday. The business has a 50-day simple moving average of $260.16 and a 200-day simple moving average of $272.29. VeriSign, Inc. has a one year low of $181.85 and a one year high of $310.60. The company has a market cap of $23.70 billion, a PE ratio of 29.80 and a beta of 0.76.

VeriSign (NASDAQ:VRSN – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The company had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.

Insiders Place Their Bets

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $265.57, for a total transaction of $1,327,850.00. Following the completion of the sale, the chief executive officer directly owned 471,439 shares of the company’s stock, valued at $125,200,055.23. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Danny R. Mcpherson sold 2,500 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $236.87, for a total value of $592,175.00. Following the transaction, the executive vice president directly owned 28,577 shares of the company’s stock, valued at approximately $6,769,033.99. This represents a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 47,839 shares of company stock valued at $12,660,539. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VRSN shares. Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. initiated coverage on VeriSign in a research report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price for the company. Zacks Research raised shares of VeriSign to a “hold” rating in a research report on Thursday, October 30th. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research note on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.67.

Check Out Our Latest Report on VRSN

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

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