abrdn plc cut its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,079 shares of the information services provider's stock after selling 3,544 shares during the quarter. abrdn plc's holdings in VeriSign were worth $4,109,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of VRSN. Concord Wealth Partners grew its holdings in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock worth $43,000 after purchasing an additional 109 shares during the period. Spire Wealth Management grew its holdings in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock worth $52,000 after purchasing an additional 104 shares during the period. Blue Trust Inc. grew its holdings in shares of VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock worth $75,000 after purchasing an additional 244 shares during the period. Intact Investment Management Inc. purchased a new position in shares of VeriSign during the 3rd quarter worth $76,000. Finally, True Wealth Design LLC grew its holdings in shares of VeriSign by 16,966.7% during the 3rd quarter. True Wealth Design LLC now owns 512 shares of the information services provider's stock worth $97,000 after purchasing an additional 509 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.
VeriSign Trading Up 0.8 %
VeriSign stock traded up $1.85 during midday trading on Thursday, reaching $229.34. 817,307 shares of the stock traded hands, compared to its average volume of 749,703. The company has a 50-day simple moving average of $207.56 and a two-hundred day simple moving average of $191.72. The firm has a market cap of $22.04 billion, a PE ratio of 28.67 and a beta of 0.90. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $230.30.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. VeriSign had a negative return on equity of 44.06% and a net margin of 50.47%.
Insider Activity
In other news, EVP Danny R. Mcpherson sold 2,092 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the sale, the executive vice president now owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.84% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a report on Tuesday, January 7th. Finally, Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and raised their target price for the company from $200.00 to $250.00 in a report on Monday, December 9th.
Check Out Our Latest Research Report on VeriSign
About VeriSign
(
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 thirteen 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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