VeriSign, Inc. (NASDAQ:VRSN) saw a rise in interest from institutional investors and hedge funds in recent months. Quantum Capital Management LLC NJ, for example, reduced its position in VeriSign by 54.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. Despite this decrease, VeriSign still remained a significant portion of its portfolio. Other investors such as Resurgent Financial Advisors LLC, Eagle Bay Advisors LLC, Altshuler Shaham Ltd, Ten Capital Wealth Advisors LLC, and V Square Quantitative Management LLC also made adjustments to their holdings of VeriSign in various periods.
VeriSign, a domain name registry services provider, has seen its stock perform well recently. Trading on Monday showed a 0.3% increase, with shares reaching $210.75. The company’s stock has been trading in the range of $188.44 to $229.72 over the past year.
VeriSign recently released its quarterly earnings data, reporting earnings per share of $1.83 for the quarter. This beat the consensus estimate of $1.74 by $0.09, and the company saw a 5.4% increase in revenue compared to the same period last year. Analysts anticipate that VeriSign will post earnings per share of $7.15 for the current fiscal year.
Analysts have given mixed ratings on VeriSign stock. StockNews.com upgraded their rating from “hold” to “buy,” while Citigroup lowered their target price for the stock from $252.00 to $249.00, maintaining a “buy” rating.
VeriSign plays a vital role in internet infrastructure, ensuring the security, stability, and resiliency of internet navigation and domain name services. The company is known for its registry services and its operation of two of the 13 internet root servers. This supports global e-commerce and enables internet navigation for recognized domain names worldwide.
Despite recent shifts in investor positions, VeriSign continues to attract attention and perform well in the market. With its strong earnings and integral role in internet infrastructure, it remains a company to watch in the digital landscape.
Frequently Asked Questions
1. What is VeriSign?
VeriSign, Inc. is a domain name registry services provider that enables internet navigation for various recognized domain names worldwide. The company plays a critical role in ensuring the security, stability, and resiliency of internet infrastructure and services.
2. How has VeriSign’s stock been performing?
VeriSign’s stock has been trading in the range of $188.44 to $229.72 over the past year. Recently, the stock showed a 0.3% increase, reaching $210.75 during trading hours on Monday.
3. What were VeriSign’s latest quarterly earnings?
VeriSign reported earnings per share of $1.83 for the most recent quarter, surpassing the consensus estimate of $1.74. The company also saw a 5.4% increase in revenue compared to the same period last year.
4. How have institutional investors and hedge funds been approaching VeriSign?
Several institutional investors and hedge funds have made adjustments to their holdings of VeriSign. Quantum Capital Management LLC NJ decreased its position in the company by 54.1% during the second quarter. Other investors, such as Resurgent Financial Advisors LLC, Eagle Bay Advisors LLC, Altshuler Shaham Ltd, Ten Capital Wealth Advisors LLC, and V Square Quantitative Management LLC, also made modifications to their VeriSign holdings in different periods.
5. What are analysts saying about VeriSign?
Analysts have given mixed ratings for VeriSign stock. StockNews.com upgraded their rating from “hold” to “buy,” while Citigroup lowered their target price from $252.00 to $249.00, reaffirming a “buy” rating on the stock.
Sources:
– Securities & Exchange Commission
– VeriSign Official Website
– MarketBeat