98,665 Shares in VeriSign, Inc. (NASDAQ:VRSN) Bought by GCQ FUNDS MANAGEMENT PTY Ltd

GCQ FUNDS MANAGEMENT PTY Ltd acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 98,665 shares of the information services provider's stock, valued at approximately $20,420,000. VeriSign comprises about 7.2% of GCQ FUNDS MANAGEMENT PTY Ltd's holdings, making the stock its 6th largest holding. GCQ FUNDS MANAGEMENT PTY Ltd owned 0.10% of VeriSign at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of VeriSign by 5.4% during the third quarter. Victory Capital Management Inc. now owns 104,110 shares of the information services provider's stock valued at $19,777,000 after purchasing an additional 5,303 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in VeriSign during the 3rd quarter worth $263,000. CIBC Asset Management Inc grew its stake in VeriSign by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 12,807 shares of the information services provider's stock worth $2,433,000 after buying an additional 670 shares during the last quarter. Empowered Funds LLC increased its position in VeriSign by 20.5% in the third quarter. Empowered Funds LLC now owns 8,195 shares of the information services provider's stock worth $1,557,000 after buying an additional 1,392 shares during the period. Finally, Claro Advisors LLC bought a new stake in VeriSign in the third quarter valued at $324,000. Institutional investors and hedge funds own 92.90% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

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

VeriSign Trading Up 0.9 %

VRSN stock traded up $2.20 during trading on Friday, hitting $244.51. The company had a trading volume of 2,031,213 shares, compared to its average volume of 691,060. The business has a 50 day moving average of $226.47 and a 200 day moving average of $202.24. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 30.56 and a beta of 0.87. VeriSign, Inc. has a fifty-two week low of $167.05 and a fifty-two week high of $245.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, hitting analysts' consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Insiders Place Their Bets

In other VeriSign news, SVP John Calys sold 447 shares of the business'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

VeriSign Company 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.