Metis Global Partners LLC Decreases Stake in VeriSign, Inc. (NASDAQ:VRSN)

Metis Global Partners LLC cut its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 20.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,753 shares of the information services provider's stock after selling 1,240 shares during the quarter. Metis Global Partners LLC's holdings in VeriSign were worth $984,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Crewe Advisors LLC acquired a new stake in shares of VeriSign in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in VeriSign in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC raised its holdings in VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after buying an additional 103 shares during the last quarter. BankPlus Trust Department bought a new stake in VeriSign during the fourth quarter worth $49,000. Finally, Spire Wealth Management lifted its position in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock worth $52,000 after buying an additional 104 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

Insider Activity at VeriSign

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 completion of the sale, the senior vice president now directly owns 23,735 shares of the company's stock, valued at $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

VeriSign Price Performance

VeriSign stock traded up $3.89 during mid-day trading on Wednesday, reaching $240.93. The stock had a trading volume of 738,086 shares, compared to its average volume of 813,012. VeriSign, Inc. has a one year low of $167.04 and a one year high of $242.23. The company has a market capitalization of $22.79 billion, a price-to-earnings ratio of 30.12 and a beta of 0.87. The company has a 50-day moving average price of $217.99 and a two-hundred day moving average price of $197.10.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its earnings results 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 negative return on equity of 43.01% and a net margin of 50.47%.

VeriSign 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.