VeriSign (NASDAQ:VRSN – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

VeriSign Trading Down 0.8 %

Shares of VRSN stock traded down $1.62 during mid-day trading on Friday, reaching $212.97. The stock had a trading volume of 477,958 shares, compared to its average volume of 509,336. VeriSign has a 1-year low of $188.44 and a 1-year high of $229.72. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 30.34 and a beta of 0.92. The business’s fifty day moving average is $208.25 and its 200-day moving average is $211.04.

VeriSign (NASDAQ:VRSN – Get Free Report) last issued its earnings results on Thursday, October 26th. The information services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. VeriSign had a negative return on equity of 45.68% and a net margin of 49.38%. The firm had revenue of $376.30 million for the quarter, compared to analyst estimates of $378.31 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. VeriSign’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that VeriSign will post 7.15 earnings per share for the current year.

Insider Activity at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $218.54, for a total transaction of $133,965.02. Following the sale, the executive vice president now directly owns 37,268 shares of the company’s stock, valued at approximately $8,144,548.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Danny R. Mcpherson sold 125 shares of VeriSign stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $211.84, for a total transaction of $26,480.00. Following the completion of the transaction, the executive vice president now directly owns 24,156 shares of the company’s stock, valued at approximately $5,117,207.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $218.54, for a total transaction of $133,965.02. Following the sale, the executive vice president now directly owns 37,268 shares in the company, valued at $8,144,548.72. The disclosure for this sale can be found here. Insiders sold 21,952 shares of company stock worth $4,626,397 over the last three months. Company insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Modera Wealth Management LLC grew its position in shares of VeriSign by 3.6% during the 3rd quarter. Modera Wealth Management LLC now owns 1,721 shares of the information services provider’s stock valued at $349,000 after acquiring an additional 60 shares during the period. 2Xideas AG boosted its position in VeriSign by 0.7% during the third quarter. 2Xideas AG now owns 55,642 shares of the information services provider’s stock worth $11,269,000 after purchasing an additional 395 shares in the last quarter. Comerica Bank grew its holdings in VeriSign by 190.0% in the third quarter. Comerica Bank now owns 12,486 shares of the information services provider’s stock valued at $2,529,000 after purchasing an additional 8,181 shares during the period. Diversified Trust Co grew its holdings in VeriSign by 3.6% in the third quarter. Diversified Trust Co now owns 18,087 shares of the information services provider’s stock valued at $3,663,000 after purchasing an additional 628 shares during the period. Finally, Morgan Stanley raised its stake in shares of VeriSign by 14.7% during the 3rd quarter. Morgan Stanley now owns 1,826,836 shares of the information services provider’s stock worth $369,989,000 after buying an additional 233,811 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

About VeriSign (Get Free Report)

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 the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.

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Original: MarketBeat News Feed: VeriSign (NASDAQ:VRSN) Rating Lowered to Hold at StockNews.com