Rhumbline Advisers lowered its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,727 shares of the information services provider's stock after selling 3,131 shares during the quarter. Rhumbline Advisers owned about 0.26% of VeriSign worth $50,856,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in shares of VeriSign during the 4th quarter valued at $26,000. Concord Wealth Partners raised its position in VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock valued at $43,000 after purchasing an additional 109 shares in the last quarter. Spire Wealth Management lifted its stake in VeriSign by 69.8% during the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock worth $52,000 after purchasing an additional 104 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of VeriSign in the 3rd quarter worth about $76,000. Finally, Blue Trust Inc. increased its position in shares of VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock valued at $75,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.
Insider Buying and Selling at VeriSign
In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by corporate insiders.
VeriSign Stock Down 0.9 %
Shares of VeriSign stock traded down $2.01 on Friday, hitting $231.87. The stock had a trading volume of 978,529 shares, compared to its average volume of 762,660. VeriSign, Inc. has a one year low of $167.04 and a one year high of $236.20. The stock's 50-day simple moving average is $211.65 and its two-hundred day simple moving average is $193.50. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 28.98 and a beta of 0.90.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.
Analyst Ratings Changes
A number of analysts recently weighed in on VRSN shares. StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Citigroup upped their price objective 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. Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. Finally, Robert W. Baird raised shares of VeriSign from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $200.00 to $250.00 in a research note on Monday, December 9th.
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About VeriSign
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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.
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