Flagship Harbor Advisors LLC Has $209,000 Stake in Verisign, Inc. (NASDAQ:VRSN)

Flagship Harbor Advisors LLC raised its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 61.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,002 shares of the information services provider’s stock after acquiring an additional 382 shares during the period. Flagship Harbor Advisors LLC’s holdings in Verisign were worth $209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in Verisign by 3.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,578 shares of the information services provider’s stock valued at $278,000 after buying an additional 51 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in Verisign by 35.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock valued at $43,000 after buying an additional 54 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in Verisign by 3.4% during the 1st quarter. First Republic Investment Management Inc. now owns 1,737 shares of the information services provider’s stock valued at $315,000 after buying an additional 57 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Verisign by 3.8% during the 4th quarter. Suntrust Banks Inc. now owns 1,813 shares of the information services provider’s stock valued at $269,000 after buying an additional 66 shares during the last quarter. Finally, Brinker Capital Inc. grew its holdings in Verisign by 0.6% during the 1st quarter. Brinker Capital Inc. now owns 11,591 shares of the information services provider’s stock valued at $2,104,000 after buying an additional 66 shares during the last quarter. 92.11% of the stock is owned by hedge funds and other institutional investors.

Shares of VRSN stock traded down $4.68 during mid-day trading on Friday, hitting $200.52. 405,361 shares of the company’s stock were exchanged, compared to its average volume of 541,875. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 42.21 and a beta of 1.06. The stock has a 50-day simple moving average of $211.93 and a two-hundred day simple moving average of $195.69. Verisign, Inc. has a fifty-two week low of $131.28 and a fifty-two week high of $221.78.

Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.06. The business had revenue of $306.29 million for the quarter, compared to analyst estimates of $306.57 million. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.18 EPS. As a group, sell-side analysts anticipate that Verisign, Inc. will post 4.98 EPS for the current year.

In related news, Director Timothy Tomlinson sold 575 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the transaction, the director now directly owns 34,251 shares of the company’s stock, valued at approximately $7,312,588.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

A number of equities research analysts have commented on VRSN shares. Robert W. Baird increased their target price on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 26th. ValuEngine cut Verisign from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Verisign presently has a consensus rating of “Buy” and an average price target of $204.75.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

See Also: Quick Ratio

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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