Trimtabs Asset Management Lowers stake in Verisign (VRSN)

Verisign (VRSN) : Trimtabs Asset Management reduced its stake in Verisign by 12.77% during the most recent quarter end. The investment management company now holds a total of 19,913 shares of Verisign which is valued at $1,689,817 after selling 2,914 shares in Verisign , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Verisign makes up approximately 1.05% of Trimtabs Asset Management’s portfolio.

Other Hedge Funds, Including , Hussman Strategic Advisors added VRSN to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $4,243,000. Verisign makes up approx 0.63% of Hussman Strategic Advisors’s portfolio.Concert Wealth Management boosted its stake in VRSN in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 2,859 shares of Verisign which is valued at $247,618. Verisign makes up approx 0.03% of Concert Wealth Management’s portfolio.Louisiana State Employees Retirement System reduced its stake in VRSN by selling 100 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 6,300 shares of VRSN which is valued at $529,137. Verisign makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.Quotient Investors reduced its stake in VRSN by selling 8,603 shares or 30.76% in the most recent quarter. The Hedge Fund company now holds 19,366 shares of VRSN which is valued at $1,634,684. Verisign makes up approx 0.75% of Quotient Investors’s portfolio.

Verisign closed down -0.76 points or -0.90% at $84.1 with 7,74,655 shares getting traded on Thursday. Post opening the session at $85.11, the shares hit an intraday low of $84.03 and an intraday high of $85.76 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Verisign reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.86. The company had revenue of $286.47 million for the quarter, compared to analysts expectations of $283.99 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

VeriSign Inc. is a global provider of domain name registry services and Internet security enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company’s product suite also includes Network Intelligence and Availability (NIA) Services consisting of Distributed Denial of Service (DDoS) Protection Services Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The Company’s Registry Services provides the security stability and resiliency of Internet infrastructure and services including the .com and .net domains two of the Internet’s root servers and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The Company has operations inside as well as outside the United States.

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