Charles Schwab Investment Management Inc. Acquires 42,465 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Charles Schwab Investment Management Inc. lifted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 570,016 shares of the information services provider's stock after acquiring an additional 42,465 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of VeriSign worth $117,971,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRSN. Whipplewood Advisors LLC purchased a new stake in shares of VeriSign during the 4th quarter valued at $26,000. Crewe Advisors LLC bought a new position in VeriSign during the fourth quarter valued at about $26,000. Venturi Wealth Management LLC increased 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 in the fourth quarter worth about $49,000. Finally, Spire Wealth Management raised its position in VeriSign by 69.8% in the fourth 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 currently owned by institutional investors.

Insider Buying and Selling at VeriSign

In other news, SVP John Calys sold 447 shares of VeriSign stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

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VeriSign Trading Down 0.4 %

Shares of VeriSign stock traded down $0.95 on Wednesday, reaching $235.59. The stock had a trading volume of 427,635 shares, compared to its average volume of 801,496. The business's 50 day moving average is $221.53 and its two-hundred day moving average is $199.18. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $242.23. The company has a market cap of $22.29 billion, a P/E ratio of 29.40 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on VRSN. StockNews.com downgraded VeriSign from a "buy" rating to a "hold" rating in a research note on Wednesday. Citigroup upped their price target on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. Finally, Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $200.00 to $250.00 in a research note on Monday, December 9th.

VeriSign Company 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.