Resona Asset Management Co. Ltd. Acquires Shares of 41,461 VeriSign, Inc. (NASDAQ:VRSN)

Resona Asset Management Co. Ltd. acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,461 shares of the information services provider's stock, valued at approximately $8,570,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its holdings in VeriSign by 544.1% in the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock valued at $81,003,000 after buying an additional 330,561 shares in the last quarter. Birch Capital Management LLC boosted its holdings in VeriSign by 3,996.0% in the fourth quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock valued at $848,000 after acquiring an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in VeriSign by 322.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock worth $53,639,000 after acquiring an additional 199,583 shares during the period. Truist Financial Corp increased its stake in shares of VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock valued at $4,235,000 after acquiring an additional 2,218 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in VeriSign by 602.6% during the 3rd quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock worth $2,225,000 after buying an additional 10,045 shares during the period. Institutional investors own 92.90% of the company's stock.

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VeriSign Stock Performance

Shares of VRSN stock traded up $4.26 during trading hours on Friday, reaching $247.13. The company had a trading volume of 626,259 shares, compared to its average volume of 741,250. The firm has a market cap of $23.38 billion, a PE ratio of 30.89 and a beta of 0.87. The business has a fifty day moving average price of $238.32 and a 200-day moving average price of $209.85. VeriSign, Inc. has a one year low of $167.05 and a one year high of $258.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.

Analyst Ratings Changes

Several equities analysts have commented on VRSN shares. Robert W. Baird lifted their target price on shares of VeriSign from $255.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Citigroup raised their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday.

Insider Activity at VeriSign

In other VeriSign news, SVP John Calys sold 447 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by insiders.

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.