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Northwestern Mutual Wealth Management Co. Sells 110 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Northwestern Mutual Wealth Management Co. lessened its position in VeriSign, Inc. (NASDAQ:VRSNGet Rating) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,454 shares of the information services provider’s stock after selling 110 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in VeriSign were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in VRSN. Riverview Trust Co bought a new position in VeriSign in the first quarter valued at $30,000. Quent Capital LLC bought a new position in VeriSign in the fourth quarter valued at $66,000. ICICI Prudential Asset Management Co Ltd bought a new position in VeriSign in the fourth quarter valued at $70,000. HHM Wealth Advisors LLC bought a new position in shares of VeriSign during the first quarter valued at about $71,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of VeriSign during the first quarter valued at about $86,000. Institutional investors own 92.26% of the company’s stock.

VeriSign Trading Down 2.7 %

Shares of NASDAQ:VRSN opened at $196.01 on Tuesday. The stock’s 50-day moving average price is $181.04 and its 200-day moving average price is $192.89. VeriSign, Inc. has a 12-month low of $155.25 and a 12-month high of $257.03. The stock has a market capitalization of $21.03 billion, a P/E ratio of 26.70 and a beta of 1.00.

VeriSign (NASDAQ:VRSNGet Rating) last posted its earnings results on Thursday, July 28th. The information services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The company had revenue of $351.90 million during the quarter, compared to analyst estimates of $348.77 million. VeriSign had a net margin of 59.09% and a negative return on equity of 47.84%. VeriSign’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. As a group, research analysts predict that VeriSign, Inc. will post 6.07 EPS for the current year.

Insider Transactions at VeriSign

In other news, CEO D James Bidzos sold 3,293 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $203.76, for a total transaction of $670,981.68. Following the completion of the sale, the chief executive officer now directly owns 682,601 shares in the company, valued at $139,086,779.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Timothy Tomlinson sold 685 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $186.80, for a total transaction of $127,958.00. Following the completion of the sale, the director now directly owns 15,692 shares in the company, valued at $2,931,265.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO D James Bidzos sold 3,293 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $203.76, for a total transaction of $670,981.68. Following the sale, the chief executive officer now owns 682,601 shares of the company’s stock, valued at $139,086,779.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,685 shares of company stock worth $3,340,848. Company insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut VeriSign from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $210.00 in a research note on Friday, April 29th.

VeriSign Company Profile

(Get Rating)

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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