Proficio Capital Partners LLC Makes New $11.87 Million Investment in VeriSign, Inc. (NASDAQ:VRSN)

Proficio Capital Partners LLC acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 57,328 shares of the information services provider's stock, valued at approximately $11,865,000. Proficio Capital Partners LLC owned about 0.06% of VeriSign at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. West Family Investments Inc. boosted its position in VeriSign by 3.9% during the third quarter. West Family Investments Inc. now owns 1,537 shares of the information services provider's stock valued at $292,000 after purchasing an additional 57 shares during the last quarter. Empirical Finance LLC grew its stake in shares of VeriSign by 1.9% in the third quarter. Empirical Finance LLC now owns 3,038 shares of the information services provider's stock valued at $577,000 after buying an additional 57 shares in the last quarter. CX Institutional increased its stake in shares of VeriSign by 5.1% during the 4th quarter. CX Institutional now owns 1,173 shares of the information services provider's stock worth $243,000 after purchasing an additional 57 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of VeriSign by 5.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider's stock valued at $296,000 after buying an additional 74 shares during the last quarter. Finally, Keystone Financial Services boosted its stake in shares of VeriSign by 7.6% during the 4th quarter. Keystone Financial Services now owns 1,137 shares of the information services provider's stock worth $235,000 after acquiring an additional 80 shares during the period. Institutional investors own 92.90% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRSN. StockNews.com cut VeriSign from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Robert W. Baird upgraded shares of VeriSign from a "neutral" rating to an "outperform" rating and upped their price target for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Baird R W upgraded shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Finally, 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.

Insiders Place Their Bets

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

VeriSign Price Performance

NASDAQ:VRSN traded up $2.27 during trading hours on Wednesday, reaching $242.09. 353,022 shares of the company were exchanged, compared to its average volume of 683,892. The company has a market capitalization of $22.90 billion, a P/E ratio of 30.26 and a beta of 0.87. The business has a 50 day moving average of $224.49 and a 200 day moving average of $201.12. VeriSign, Inc. has a 1-year low of $167.05 and a 1-year high of $244.77.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly 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%.

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.