Vinva Investment Management Ltd reduced its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,507 shares of the information services provider's stock after selling 1,895 shares during the period. Vinva Investment Management Ltd's holdings in VeriSign were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of VRSN. Crewe Advisors LLC acquired a new stake in VeriSign in the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in shares of VeriSign in the 4th quarter valued at $26,000. Venturi Wealth Management LLC grew its holdings in shares of VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after purchasing an additional 103 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of VeriSign during the 4th quarter worth about $49,000. Finally, Spire Wealth Management increased 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 worth $52,000 after purchasing an additional 104 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
VRSN has been the topic of a number of recent analyst reports. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a research report on Friday. Citigroup boosted their target price on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Finally, Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $200.00 to $250.00 in a research report on Monday, December 9th.
View Our Latest Stock Analysis on VeriSign
Insiders Place Their Bets
In other news, SVP John Calys sold 447 shares of the business'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 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 legal filing with the SEC, which is available through this link. Company insiders own 0.84% of the company's stock.
VeriSign Stock Up 0.2 %
NASDAQ:VRSN traded up $0.45 during mid-day trading on Tuesday, reaching $245.81. 657,466 shares of the company were exchanged, compared to its average volume of 690,942. The stock has a market cap of $23.25 billion, a PE ratio of 30.73 and a beta of 0.87. VeriSign, Inc. has a 12 month low of $167.05 and a 12 month high of $247.30. The company has a fifty day moving average of $227.18 and a 200 day moving average of $202.79.
VeriSign (NASDAQ:VRSN - Get Free Report) last announced its 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%.
VeriSign Profile
(
Free Report)
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.
Further Reading
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