Royal Bank of Canada Boosts Stake in VeriSign

Royal Bank of Canada significantly increased its stake in VeriSign, Inc. (NASDAQ:VRSN) during the first quarter by 296.3%, purchasing an additional 308,411 shares. As a result, Royal Bank of Canada now owns 412,502 shares, representing 0.45% of the company's outstanding stock and $102,449,000 in value.

This is not an isolated instance; several other institutional investors also increased their positions in VeriSign during the same period. For example, Advisors Asset Management Inc. boosted its stake by 25.3%, now owning 198 shares worth $50,000 after purchasing an additional 40 shares.

VeriSign's stock price has been performing well, with a recent trading session closing at $290.02. The company's earnings report for the quarter ended July 23rd exceeded expectations, with the firm reporting $2.38 EPS and revenue of $434.60 million, up 6% from the same period last year.