Seven Eight Capital LP Purchases 16,015 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Seven Eight Capital LP grew its position in VeriSign, Inc. (NASDAQ:VRSN) by 794.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,031 shares of the information services provider’s stock after purchasing an additional 16,015 shares during the quarter. Seven Eight Capital LP’s holdings in VeriSign were worth $3,206,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of VeriSign by 7.8% in the 4th quarter. Gilbert & Cook Inc. now owns 2,311 shares of the information services provider’s stock valued at $476,000 after purchasing an additional 168 shares during the period. Private Advisor Group LLC acquired a new stake in shares of VeriSign during the 4th quarter worth approximately $248,000. Dimensional Fund Advisors LP increased its stake in shares of VeriSign by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 388,400 shares of the information services provider’s stock valued at $79,996,000 after acquiring an additional 2,521 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in VeriSign during the fourth quarter worth $264,000. Finally, Norges Bank acquired a new stake in VeriSign in the fourth quarter worth $207,161,000. Institutional investors own 92.90% of the company’s stock.

Insider Activity

In other VeriSign news, EVP Thomas C. Indelicarto sold 3,684 shares of VeriSign stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares in the company, valued at $7,177,060. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a report on Thursday, June 27th. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th.

VeriSign Stock Performance

VeriSign stock opened at $182.86 on Wednesday. The stock has a market cap of $18.21 billion, a PE ratio of 22.46 and a beta of 0.90. The firm’s 50-day simple moving average is $180.27 and its 200 day simple moving average is $180.48. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $220.91.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.08. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The company had revenue of $387.10 million during the quarter, compared to analysts’ expectations of $385.80 million. During the same period in the previous year, the business earned $1.79 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last 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.