VeriSign, Inc. (NASDAQ:VRSN) Short Interest Update

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,820,000 shares, an increase of 18.2% from the February 13th total of 1,540,000 shares. Based on an average daily trading volume, of 759,300 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages have recently issued reports on VRSN. StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a report on Friday. Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Citigroup upped their target price on shares of VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird raised VeriSign from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $200.00 to $250.00 in a report on Monday, December 9th.

VeriSign Price Performance

Shares of NASDAQ VRSN traded up $2.20 during midday trading on Friday, reaching $244.51. 2,031,213 shares of the company traded hands, compared to its average volume of 690,262. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 30.56 and a beta of 0.87. The stock has a 50-day moving average price of $226.47 and a 200 day moving average price of $202.12. VeriSign has a 52 week low of $167.05 and a 52 week high of $245.67.

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VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 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%.

Insider Transactions at VeriSign

In other news, SVP John Calys sold 447 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. This represents a 1.85 % 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. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On VeriSign

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

About VeriSign

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.