JPMorgan Chase & Co. reduced its stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,080 shares of the information services provider's stock after selling 11,920 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of VeriSign worth $66,451,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of VeriSign during the fourth quarter worth about $141,129,000. Nordea Investment Management AB increased its position in VeriSign by 544.1% during the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock worth $81,003,000 after buying an additional 330,561 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $53,639,000 after buying an additional 199,583 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of VeriSign in the third quarter valued at approximately $35,665,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of VeriSign by 56.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 383,100 shares of the information services provider's stock valued at $79,286,000 after acquiring an additional 138,796 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.
VeriSign Trading Up 3.9 %
Shares of VeriSign stock traded up $9.14 during trading hours on Wednesday, hitting $244.63. 1,414,875 shares of the company were exchanged, compared to its average volume of 739,649. The business has a 50-day moving average of $237.21 and a 200-day moving average of $208.82. VeriSign, Inc. has a 1 year low of $167.05 and a 1 year high of $258.67. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 30.58 and a beta of 0.87.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 EPS 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%.
Insider Activity at VeriSign
In other VeriSign news, SVP John Calys sold 447 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the transaction, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.84% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Robert W. Baird upped their price target on shares of VeriSign from $255.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Citigroup upped their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd.
View Our Latest Analysis on VRSN
About VeriSign
(
Free Report)
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.
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