Diamond Hill Capital Management Inc. reduced its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,823 shares of the information services provider's stock after selling 3,824 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.44% of VeriSign worth $87,921,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in VeriSign in the 4th quarter worth about $141,129,000. Nordea Investment Management AB increased its stake in 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. Allspring Global Investments Holdings LLC increased its stake in VeriSign by 322.2% in 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in VeriSign in the 3rd quarter worth about $35,665,000. Finally, Assenagon Asset Management S.A. increased its stake in VeriSign by 56.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 383,100 shares of the information services provider's stock worth $79,286,000 after purchasing an additional 138,796 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.
VeriSign Stock Performance
Shares of VeriSign stock traded up $1.30 during trading on Tuesday, hitting $239.82. 585,271 shares of the stock traded hands, compared to its average volume of 683,122. The stock has a market cap of $22.69 billion, a P/E ratio of 29.98 and a beta of 0.87. VeriSign, Inc. has a twelve month low of $167.05 and a twelve month high of $242.23. The company has a fifty day moving average price of $223.88 and a two-hundred day moving average price of $200.73.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. StockNews.com cut VeriSign from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Robert W. Baird raised 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. Finally, Citigroup lifted their target price on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th.
View Our Latest Stock Report on VRSN
Insider Buying and Selling
In related news, SVP John Calys sold 447 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company's stock.
About VeriSign
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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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