American International Group Inc. cut its stake in VeriSign, Inc. (NASDAQ:VRSN) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 34,897 shares of the information services provider’s stock after selling 648 shares during the period. American International Group Inc.’s holdings in VeriSign were worth $3,040,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in VeriSign by 13.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,464 shares of the information services provider’s stock valued at $112,000 after buying an additional 174 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of VeriSign by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,341 shares of the information services provider’s stock worth $117,000 after buying an additional 632 shares during the period. Pacer Advisors Inc. raised its stake in shares of VeriSign by 3.4% in the first quarter. Pacer Advisors Inc. now owns 1,654 shares of the information services provider’s stock worth $144,000 after buying an additional 55 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of VeriSign during the first quarter worth about $178,000. Finally, Blenheim Capital Management BV bought a new stake in shares of VeriSign during the fourth quarter worth about $216,000.

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

VeriSign, Inc. (NASDAQ:VRSN) opened at 92.46 on Friday. VeriSign, Inc. has a 52-week low of $74.01 and a 52-week high of $93.78. The stock’s 50 day moving average price is $90.57 and its 200-day moving average price is $84.88. The company has a market capitalization of $9.38 billion, a P/E ratio of 26.12 and a beta of 1.24.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, April 27th. The information services provider reported $0.86 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. VeriSign had a negative return on equity of 36.75% and a net margin of 39.13%. The firm had revenue of $288.60 million during the quarter, compared to analysts’ expectations of $284.70 million. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that VeriSign, Inc. will post $3.95 earnings per share for the current fiscal year.

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A number of equities research analysts have issued reports on VRSN shares. Zacks Investment Research raised shares of VeriSign from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, May 2nd. Citigroup Inc. upgraded VeriSign from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 12th. Cowen and Company increased their target price on VeriSign from $89.00 to $94.00 and gave the company a “market perform” rating in a research report on Monday, April 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $85.00 target price on shares of VeriSign in a research report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. VeriSign has an average rating of “Hold” and a consensus price target of $87.80.

About VeriSign

VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).

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