VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,915,271 shares of the information services provider's stock after selling 260,719 shares during the period. VeriSign accounts for about 0.9% of Renaissance Technologies LLC's investment portfolio, making the stock its 5th largest position. Renaissance Technologies LLC owned approximately 3.03% of VeriSign worth $603,344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRSN. Crewe Advisors LLC bought a new stake in VeriSign during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of VeriSign during the 4th quarter worth about $26,000. Venturi Wealth Management LLC boosted its stake in VeriSign by 127.2% during the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock valued at $38,000 after purchasing an additional 103 shares during the period. BankPlus Trust Department acquired a new stake in VeriSign in the 4th quarter valued at approximately $49,000. Finally, Spire Wealth Management grew its holdings in VeriSign by 69.8% in the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock valued at $52,000 after buying an additional 104 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Remove Ads

VeriSign Price Performance

Shares of VRSN traded up $4.26 on Friday, reaching $247.13. 626,259 shares of the stock traded hands, compared to its average volume of 741,250. VeriSign, Inc. has a 12 month low of $167.05 and a 12 month high of $258.67. The stock's 50-day moving average price is $238.32 and its 200-day moving average price is $209.85. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 30.89 and a beta of 0.87.

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

Insider Buying and Selling at VeriSign

In other VeriSign news, SVP John Calys sold 447 shares of the business'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 transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

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.