Rossby Financial LCC Invests $333,000 in VeriSign, Inc. (NASDAQ:VRSN)

Rossby Financial LCC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,608 shares of the information services provider's stock, valued at approximately $333,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Invesco Ltd. raised its position in shares of VeriSign by 2.1% in the 4th quarter. Invesco Ltd. now owns 1,701,154 shares of the information services provider's stock worth $352,071,000 after acquiring an additional 35,326 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of VeriSign by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,759 shares of the information services provider's stock worth $265,894,000 after buying an additional 116,833 shares during the period. Norges Bank bought a new position in shares of VeriSign during the fourth quarter valued at approximately $222,840,000. Troy Asset Management Ltd grew its stake in shares of VeriSign by 49.1% in the fourth quarter. Troy Asset Management Ltd now owns 914,543 shares of the information services provider's stock worth $189,274,000 after acquiring an additional 301,267 shares during the last quarter. Finally, Amundi increased its holdings in shares of VeriSign by 17.8% during the fourth quarter. Amundi now owns 702,055 shares of the information services provider's stock valued at $148,604,000 after acquiring an additional 106,094 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VRSN. Citigroup increased their price objective on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Finally, Robert W. Baird boosted their price objective on shares of VeriSign from $255.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st.

Insider Activity

In related news, SVP John Calys sold 447 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the transaction, the senior vice president now owns 23,735 shares of the company's stock, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company's stock.

VeriSign Price Performance

NASDAQ VRSN traded up $0.74 during trading hours on Friday, hitting $246.67. The company's stock had a trading volume of 628,305 shares, compared to its average volume of 744,439. The company has a market cap of $23.22 billion, a P/E ratio of 30.83 and a beta of 0.87. The company's 50 day simple moving average is $240.43 and its two-hundred day simple moving average is $211.15. VeriSign, Inc. has a 12 month low of $167.05 and a 12 month high of $258.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

VeriSign Company Profile

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