Generali Investments Management Co LLC Buys New Stake in VeriSign, Inc. (NASDAQ:VRSN)

Generali Investments Management Co LLC acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,538 shares of the information services provider's stock, valued at approximately $2,181,000.

A number of other large investors also recently bought and sold shares of VRSN. 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 acquiring an additional 330,561 shares in the last quarter. Birch Capital Management LLC grew its holdings 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 purchasing an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in VeriSign by 322.2% in the fourth 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 during the last quarter. Truist Financial Corp increased its position in shares of VeriSign by 12.2% during 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 boosted its position in shares of VeriSign by 602.6% in the 3rd quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock worth $2,225,000 after purchasing an additional 10,045 shares in the last quarter. Institutional investors own 92.90% of the company's stock.

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Insider Transactions at VeriSign

In related news, SVP John Calys sold 447 shares of the business's stock in a transaction on 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 transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

VeriSign Price Performance

VeriSign stock traded up $2.20 during trading hours on Friday, hitting $244.51. 2,031,213 shares of the stock traded hands, compared to its average volume of 691,060. The firm's 50 day moving average price is $226.47 and its 200-day moving average price is $202.24. The stock 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 1 year low of $167.05 and a 1 year high of $245.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, meeting analysts' consensus estimates 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

VRSN has been the topic of several recent analyst reports. Citigroup upped their target price on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Robert W. Baird upgraded shares of VeriSign from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $200.00 to $250.00 in a research note on Monday, December 9th. Finally, StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Friday.

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.