VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 45.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,421 shares of the information services provider's stock after selling 2,806 shares during the quarter. Entropy Technologies LP's holdings in VeriSign were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VRSN. Crewe Advisors LLC purchased a new stake in shares of VeriSign in the fourth quarter valued at about $26,000. Concord Wealth Partners lifted its stake in VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock valued at $43,000 after buying an additional 109 shares in the last quarter. Spire Wealth Management lifted its stake in VeriSign by 69.8% in the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock valued at $52,000 after buying an additional 104 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in VeriSign during the 3rd quarter valued at $76,000. Finally, Blue Trust Inc. increased its position in VeriSign by 138.6% during the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock worth $75,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Stock Performance

NASDAQ VRSN traded down $0.10 during trading hours on Friday, hitting $229.24. 730,444 shares of the company's stock were exchanged, compared to its average volume of 639,599. The business's 50 day moving average is $209.13 and its 200-day moving average is $192.27. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $230.30. The firm has a market capitalization of $22.03 billion, a P/E ratio of 28.66 and a beta of 0.90.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, hitting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 44.06%.

Insiders Place Their Bets

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VRSN shares. Robert W. Baird raised VeriSign from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $200.00 to $250.00 in a research note on Monday, December 9th. StockNews.com raised shares of VeriSign from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Citigroup lifted their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. 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.

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.