Envestnet Asset Management Inc. Sells 7,788 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Envestnet Asset Management Inc. lowered its stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,554 shares of the information services provider's stock after selling 7,788 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of VeriSign worth $21,638,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of 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 purchasing an additional 330,561 shares in the last quarter. Birch Capital Management LLC grew its position in VeriSign by 3,996.0% in the fourth quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock worth $848,000 after acquiring an additional 3,996 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 valued at $53,639,000 after purchasing an additional 199,583 shares in the last quarter. Truist Financial Corp boosted its holdings in VeriSign by 12.2% in the fourth quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock worth $4,235,000 after purchasing an additional 2,218 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of VeriSign by 602.6% in the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock worth $2,225,000 after buying an additional 10,045 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Trading Up 0.3 %

NASDAQ VRSN traded up $0.74 on Friday, hitting $246.67. 628,305 shares of the company were exchanged, compared to its average volume of 744,439. The firm has a 50 day moving average of $240.43 and a two-hundred day moving average of $211.15. VeriSign, Inc. has a 1-year low of $167.05 and a 1-year high of $258.67. The company has a market cap of $23.22 billion, a P/E ratio of 30.83 and a beta of 0.87.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted 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%.

Analyst Ratings Changes

VRSN has been the topic of a number of analyst reports. Citigroup upped their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price objective on VeriSign from $255.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, StockNews.com raised shares of VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th.

Insider Transactions at VeriSign

In related news, SVP John Calys sold 447 shares of VeriSign stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the sale, the senior vice president now owns 23,735 shares of the company's stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

About VeriSign

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.