Allegiance Financial Group Advisory Services LLC Acquires Shares of 1,109 VeriSign, Inc. (NASDAQ:VRSN)

Allegiance Financial Group Advisory Services LLC purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,109 shares of the information services provider's stock, valued at approximately $230,000.

Several other institutional investors have also modified their holdings of the business. Nordea Investment Management AB increased its holdings in VeriSign by 544.1% during the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock worth $81,003,000 after purchasing an additional 330,561 shares in the last quarter. Birch Capital Management LLC grew its holdings in shares of VeriSign by 3,996.0% during the fourth quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock worth $848,000 after buying an additional 3,996 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in VeriSign by 322.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock valued at $53,639,000 after buying an additional 199,583 shares during the last quarter. Truist Financial Corp lifted its stake in VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock valued at $4,235,000 after acquiring an additional 2,218 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in VeriSign by 602.6% during the 3rd quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock worth $2,225,000 after acquiring an additional 10,045 shares during the last quarter. Institutional investors own 92.90% of the company's stock.

Wall Street Analyst Weigh In

VRSN has been the topic of a number of recent research reports. Citigroup lifted their price objective on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Robert W. Baird upgraded shares of VeriSign from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Baird R W upgraded shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Finally, StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th.

VeriSign Stock Up 1.2 %

Shares of NASDAQ:VRSN traded up $2.85 during midday trading on Friday, hitting $237.88. The stock had a trading volume of 1,328,986 shares, compared to its average volume of 801,487. The company has a market cap of $22.50 billion, a P/E ratio of 29.74 and a beta of 0.90. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $239.95. The business's 50-day simple moving average is $216.48 and its 200-day simple moving average is $196.11.

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

Insiders Place Their Bets

In other VeriSign news, SVP John Calys sold 447 shares of VeriSign stock in a transaction on Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the transaction, the senior vice president now directly owns 23,735 shares of the company's stock, valued at $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Danny R. Mcpherson sold 2,092 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares in the company, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.84% of the company's stock.

About VeriSign

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.