Corient Private Wealth LLC Lowers Position in VeriSign, Inc. (NASDAQ:VRSN)

Corient Private Wealth LLC lowered its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,998 shares of the information services provider's stock after selling 7,194 shares during the period. Corient Private Wealth LLC's holdings in VeriSign were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRSN. Crewe Advisors LLC bought a new position in shares of VeriSign during the fourth quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in shares of VeriSign in the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its stake in shares of VeriSign by 127.2% during 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 bought a new stake in VeriSign during the fourth quarter valued at about $49,000. Finally, Spire Wealth Management grew its stake in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock valued at $52,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Buying and Selling at VeriSign

In other VeriSign news, SVP John Calys sold 447 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Robert W. Baird upgraded shares of VeriSign from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Citigroup lifted their price objective on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th.

VeriSign Stock Down 1.5 %

NASDAQ VRSN traded down $3.82 during trading hours on Friday, hitting $250.92. 746,822 shares of the company were exchanged, compared to its average volume of 721,948. VeriSign, Inc. has a 52 week low of $167.05 and a 52 week high of $256.45. The stock has a 50-day moving average price of $229.56 and a 200 day moving average price of $203.91. The stock has a market cap of $23.74 billion, a PE ratio of 31.37 and a beta of 0.87.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting the consensus estimate 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.