Prudential PLC Reduces Position in VeriSign, Inc. (NASDAQ:VRSN)

Prudential PLC trimmed its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,368 shares of the information services provider's stock after selling 16,285 shares during the quarter. Prudential PLC's holdings in VeriSign were worth $6,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of VeriSign during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of VeriSign during the fourth quarter worth $26,000. Venturi Wealth Management LLC grew its holdings in shares of VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock valued at $38,000 after buying an additional 103 shares during the last quarter. BankPlus Trust Department purchased a new position in VeriSign in the 4th quarter worth $49,000. Finally, Spire Wealth Management lifted its position in 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 acquiring an additional 104 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Price Performance

VRSN stock traded down $4.71 during midday trading on Thursday, hitting $239.92. 233,349 shares of the stock traded hands, compared to its average volume of 850,745. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $258.67. The stock's fifty day simple moving average is $237.21 and its 200-day simple moving average is $208.82. The firm has a market cap of $22.70 billion, a P/E ratio of 29.99 and a beta of 0.87.

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

Insider Activity

In other VeriSign news, SVP John Calys sold 447 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VRSN shares. 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. Robert W. Baird increased their price target on VeriSign from $255.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd.

About VeriSign

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.