Chevy Chase Trust Holdings LLC lessened its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,369 shares of the information services provider's stock after selling 1,635 shares during the period. Chevy Chase Trust Holdings LLC's holdings in VeriSign were worth $8,976,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in VRSN. Jacobs Levy Equity Management Inc. raised its stake in VeriSign by 7.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 693,369 shares of the information services provider's stock worth $131,712,000 after acquiring an additional 47,412 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in VeriSign in the 4th quarter valued at approximately $141,129,000. BNP Paribas Financial Markets lifted its stake in VeriSign by 26.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 580,613 shares of the information services provider's stock valued at $110,293,000 after purchasing an additional 120,958 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in VeriSign by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 527,551 shares of the information services provider's stock valued at $100,214,000 after buying an additional 9,574 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of VeriSign by 12.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 428,647 shares of the information services provider's stock worth $81,426,000 after buying an additional 46,677 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on VRSN. Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Citigroup increased their target price on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a report on Tuesday, January 7th.
Get Our Latest Analysis on VeriSign
VeriSign Trading Down 0.9 %
NASDAQ:VRSN traded down $2.01 during trading hours on Friday, hitting $231.87. 978,529 shares of the company were exchanged, compared to its average volume of 762,660. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 28.98 and a beta of 0.90. VeriSign, Inc. has a one year low of $167.04 and a one year high of $236.20. The company has a fifty day simple moving average of $211.65 and a 200 day simple moving average of $193.50.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.
Insider Transactions at VeriSign
In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign 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 of the company's stock, valued at $5,033,391.51. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.84% of the company's stock.
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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