Zurcher Kantonalbank Zurich Cantonalbank Sells 45,629 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 63.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,015 shares of the information services provider's stock after selling 45,629 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in VeriSign were worth $5,384,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in VeriSign by 544.1% during the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock worth $81,003,000 after acquiring an additional 330,561 shares during the period. Birch Capital Management LLC increased its position in shares of VeriSign by 3,996.0% during the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock valued at $848,000 after purchasing an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 purchasing an additional 199,583 shares during the period. Truist Financial Corp boosted its holdings 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 worth $4,235,000 after buying an additional 2,218 shares during the last quarter. Finally, MML Investors Services LLC grew its position in VeriSign by 602.6% during the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock valued at $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 Price Performance

NASDAQ:VRSN traded up $1.30 on Tuesday, reaching $239.82. 585,260 shares of the company's stock were exchanged, compared to its average volume of 683,122. The stock has a fifty day simple moving average of $223.88 and a 200-day simple moving average of $200.73. VeriSign, Inc. has a 52 week low of $167.05 and a 52 week high of $242.23. The firm has a market cap of $22.69 billion, a price-to-earnings ratio of 29.98 and a beta of 0.87.

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

Insider Activity

In other news, SVP John Calys sold 447 shares of the 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 sale, the senior vice president now directly owns 23,735 shares of the company's stock, valued at approximately $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on VRSN shares. Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. StockNews.com cut shares of VeriSign from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Citigroup increased their price objective on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $200.00 to $250.00 in a research note on Monday, December 9th.

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.