VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,718 shares of the information services provider's stock after selling 7,035 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of VeriSign worth $126,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRSN. Crewe Advisors LLC acquired a new stake in shares of VeriSign in the 4th quarter worth about $26,000. Venturi Wealth Management LLC increased its holdings in VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after acquiring an additional 103 shares during the last quarter. BankPlus Trust Department purchased a new stake in VeriSign during the fourth quarter valued at about $49,000. Spire Wealth Management boosted its position in VeriSign by 69.8% during the fourth 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. Finally, Capital Advisors Ltd. LLC boosted its holdings in VeriSign by 46.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 272 shares of the information services provider's stock worth $56,000 after buying an additional 86 shares during the period. 92.90% of the stock is currently owned by institutional investors.

VeriSign Price Performance

NASDAQ:VRSN traded up $2.28 during mid-day trading on Monday, hitting $240.16. 1,090,457 shares of the company's stock were exchanged, compared to its average volume of 808,711. The business has a fifty day moving average price of $217.28 and a 200 day moving average price of $196.70. VeriSign, Inc. has a one year low of $167.04 and a one year high of $242.23. The company has a market cap of $22.72 billion, a PE ratio of 30.02 and a beta of 0.90.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings results 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%.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.