Alta Capital Management LLC Sells 1,153 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Alta Capital Management LLC lowered its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,708 shares of the information services provider's stock after selling 1,153 shares during the period. VeriSign makes up 1.1% of Alta Capital Management LLC's investment portfolio, making the stock its 28th largest holding. Alta Capital Management LLC owned about 0.09% of VeriSign worth $18,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRSN. Nordea Investment Management AB boosted its position in shares of VeriSign by 544.1% in 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 raised its stake in 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 valued at $848,000 after buying an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in VeriSign by 322.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock worth $53,639,000 after acquiring an additional 199,583 shares in the last quarter. Truist Financial Corp grew its stake in shares of VeriSign by 12.2% in the fourth quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock worth $4,235,000 after acquiring an additional 2,218 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of VeriSign by 602.6% during the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock valued at $2,225,000 after acquiring an additional 10,045 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

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Insider Activity at VeriSign

In related news, SVP John Calys sold 447 shares of the firm's 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 approximately $5,500,586.25. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VRSN. Citigroup upped their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Monday. Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Finally, Robert W. Baird raised VeriSign from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $200.00 to $250.00 in a research report on Monday, December 9th.

VeriSign Price Performance

NASDAQ VRSN traded up $0.53 during trading hours on Friday, hitting $240.47. The company's stock had a trading volume of 653,254 shares, compared to its average volume of 808,563. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $242.23. The company's 50 day simple moving average is $219.53 and its two-hundred day simple moving average is $197.70. The company has a market cap of $22.75 billion, a P/E ratio of 30.06 and a beta of 0.87.

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

VeriSign 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.