C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $141.13 Million in VeriSign, Inc. (NASDAQ:VRSN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 681,912 shares of the information services provider's stock, valued at approximately $141,129,000. VeriSign makes up 5.0% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' investment portfolio, making the stock its 4th largest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 0.71% of VeriSign as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of VRSN. Nordea Investment Management AB increased its stake 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 buying an additional 330,561 shares in the last quarter. Birch Capital Management LLC boosted its holdings in shares of VeriSign by 3,996.0% during the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock worth $848,000 after purchasing an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of VeriSign by 322.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock worth $53,639,000 after purchasing an additional 199,583 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of 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 purchasing an additional 10,045 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of VeriSign during the 4th quarter worth approximately $989,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

VeriSign Price Performance

VRSN traded down $2.01 during trading hours on Friday, reaching $231.87. The company's stock had a trading volume of 978,529 shares, compared to its average volume of 762,660. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $236.20. The stock has a market cap of $21.93 billion, a PE ratio of 28.98 and a beta of 0.90. The business's 50-day moving average is $211.65 and its 200-day moving average is $193.50.

VeriSign (NASDAQ:VRSN - Get Free Report) last released 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 negative return on equity of 43.01% and a net margin of 50.47%.

Insider Activity at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares in the company, valued at $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup boosted their target price on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a report on Tuesday, January 7th. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Finally, Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th.

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.