Overbrook Management Corp Grows Position in VeriSign, Inc. (NASDAQ:VRSN)

Overbrook Management Corp boosted its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 82,670 shares of the information services provider’s stock after acquiring an additional 175 shares during the quarter. VeriSign comprises approximately 3.4% of Overbrook Management Corp’s investment portfolio, making the stock its 13th largest position. Overbrook Management Corp’s holdings in VeriSign were worth $17,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of VeriSign by 52.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Baldwin Brothers LLC MA boosted its holdings in shares of VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 111 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of VeriSign by 91.7% in the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after acquiring an additional 166 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of VeriSign by 251.5% in the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 254 shares during the period. Finally, CX Institutional acquired a new position in shares of VeriSign in the 4th quarter valued at $79,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VRSN shares. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup reduced their price objective on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the completion of the sale, the executive vice president now owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total transaction of $119,737.29. Following the completion of the transaction, the executive vice president now owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Todd B. Strubbe sold 9,423 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at approximately $21,552,768.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,877 shares of company stock valued at $2,878,864. 0.94% of the stock is owned by company insiders.

VeriSign Stock Performance

Shares of NASDAQ VRSN traded down $2.87 during mid-day trading on Thursday, reaching $182.68. The company’s stock had a trading volume of 1,649,702 shares, compared to its average volume of 590,464. The stock has a 50-day moving average of $189.66 and a two-hundred day moving average of $200.25. The stock has a market capitalization of $18.29 billion, a P/E ratio of 23.07 and a beta of 0.88. VeriSign, Inc. has a 1-year low of $181.01 and a 1-year high of $229.72.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 8th. The information services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.09. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. The business had revenue of $380.40 million during the quarter, compared to analysts’ expectations of $381.01 million. Analysts predict that VeriSign, Inc. will post 7.82 EPS for the current fiscal year.

VeriSign Company 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.