Wellington Management Group LLP trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 66.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,683 shares of the information services provider's stock after selling 93,542 shares during the quarter. Wellington Management Group LLP's holdings in VeriSign were worth $9,662,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in VRSN. Sequoia Financial Advisors LLC raised its position in shares of VeriSign by 2.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,960 shares of the information services provider's stock worth $406,000 after purchasing an additional 48 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of VeriSign by 1.8% in the fourth quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider's stock worth $674,000 after buying an additional 56 shares during the last quarter. CX Institutional raised its stake in shares of VeriSign by 5.1% in the fourth quarter. CX Institutional now owns 1,173 shares of the information services provider's stock worth $243,000 after buying an additional 57 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of VeriSign by 4.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider's stock valued at $304,000 after buying an additional 64 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of VeriSign by 5.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider's stock worth $296,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 92.90% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of VeriSign from $255.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. StockNews.com upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup raised their price target on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th.
Check Out Our Latest Report on VeriSign
Insider Transactions at VeriSign
In related news, SVP John Calys sold 447 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the transaction, the senior vice president now owns 23,735 shares of the company's stock, valued at $5,500,586.25. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.
VeriSign Price Performance
NASDAQ VRSN traded up $3.09 on Tuesday, hitting $250.31. The stock had a trading volume of 102,682 shares, compared to its average volume of 739,869. VeriSign, Inc. has a 52-week low of $167.05 and a 52-week high of $258.67. The business's fifty day moving average price is $238.85 and its 200 day moving average price is $210.24. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 31.28 and a beta of 0.87.
VeriSign (NASDAQ:VRSN - Get Free Report) last posted 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%.
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.
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