VeriSign (NASDAQ:VRSN) Price Target Raised to $275.00

VeriSign (NASDAQ:VRSN - Free Report) had its price objective boosted by Robert W. Baird from $255.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the information services provider's stock.

Several other equities research analysts also recently issued reports on VRSN. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. StockNews.com downgraded shares of VeriSign from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup increased their price target on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th.

VeriSign Trading Down 6.0 %

Shares of NASDAQ:VRSN traded down $15.23 during trading on Tuesday, hitting $240.20. 1,875,315 shares of the company were exchanged, compared to its average volume of 730,910. VeriSign has a fifty-two week low of $167.05 and a fifty-two week high of $258.67. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 30.03 and a beta of 0.87. The firm has a fifty day moving average price of $234.69 and a two-hundred day moving average price of $206.83.

Remove Ads

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 (EPS) 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 Activity

In other news, SVP John Calys sold 447 shares of the company's stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of VeriSign during the 4th quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in VeriSign in the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC increased 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 in the last quarter. BankPlus Trust Department bought a new position in shares of VeriSign during the fourth quarter valued at about $49,000. Finally, Spire Wealth Management boosted its holdings 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. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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.