Guardian Wealth Management Inc. Buys 8,055 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Guardian Wealth Management Inc. increased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 73.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,051 shares of the information services provider's stock after acquiring an additional 8,055 shares during the period. VeriSign comprises about 2.6% of Guardian Wealth Management Inc.'s investment portfolio, making the stock its 11th biggest position. Guardian Wealth Management Inc.'s holdings in VeriSign were worth $3,619,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in VeriSign by 291.1% during the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider's stock worth $33,000 after buying an additional 131 shares in the last quarter. UMB Bank n.a. increased its position in VeriSign by 117.2% in the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider's stock worth $36,000 after purchasing an additional 109 shares during the period. Rothschild Investment LLC bought a new stake in VeriSign during the 2nd quarter worth about $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of VeriSign in the 2nd quarter valued at about $39,000. Finally, Concord Wealth Partners grew its position in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock worth $43,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total value of $402,563.56. Following the sale, the executive vice president now owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the transaction, the executive vice president now directly owns 34,821 shares of the company's stock, valued at approximately $6,615,990. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,776 shares of company stock worth $1,102,524. Company insiders own 0.84% of the company's stock.

VeriSign Stock Performance

NASDAQ:VRSN traded up $9.32 during trading hours on Monday, hitting $200.46. The stock had a trading volume of 848,912 shares, compared to its average volume of 663,569. The business's 50 day moving average is $184.86 and its 200-day moving average is $181.29. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 22.23 and a beta of 0.92. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The company had revenue of $390.60 million during the quarter, compared to the consensus estimate of $390.19 million. During the same period in the prior year, the company earned $1.83 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upgraded shares of 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 report on Monday.

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.