OVERSEA CHINESE BANKING Corp Ltd Takes $225,000 Position in VeriSign, Inc. (NASDAQ:VRSN)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,087 shares of the information services provider's stock, valued at approximately $225,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in VeriSign by 544.1% in the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock valued at $81,003,000 after acquiring an additional 330,561 shares in the last quarter. Birch Capital Management LLC increased its position in shares of VeriSign by 3,996.0% in the 4th 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 raised its stake in shares of VeriSign by 322.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock valued at $53,639,000 after purchasing an additional 199,583 shares in the last quarter. Truist Financial Corp lifted 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 during the last quarter. Finally, MML Investors Services LLC grew its stake in VeriSign by 602.6% in the third 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. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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VeriSign Stock Performance

Shares of VeriSign stock traded up $0.45 on Tuesday, reaching $245.81. 657,466 shares of the company were exchanged, compared to its average volume of 690,942. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 30.73 and a beta of 0.87. VeriSign, Inc. has a 1-year low of $167.05 and a 1-year high of $247.30. The company's 50-day moving average is $227.18 and its two-hundred day moving average is $202.79.

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

Analysts Set New Price Targets

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

Insider Transactions at VeriSign

In other VeriSign news, SVP John Calys sold 447 shares of the company'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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.84% of the company's stock.

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.