Wells Fargo & Company MN Sells 29,461 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Wells Fargo & Company MN lessened its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,737 shares of the information services provider's stock after selling 29,461 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of VeriSign worth $15,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of 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 purchasing an additional 330,561 shares during the last quarter. Birch Capital Management LLC grew its stake in shares of VeriSign by 3,996.0% during the fourth 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 position in VeriSign by 322.2% in 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 last quarter. Truist Financial Corp lifted its holdings in VeriSign by 12.2% during 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 in the last quarter. Finally, MML Investors Services LLC boosted its position in VeriSign by 602.6% in the 3rd 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 last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Citigroup raised their price objective on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on shares of VeriSign from $255.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st.

VeriSign Price Performance

NASDAQ:VRSN traded up $0.74 during trading hours on Friday, reaching $246.67. 628,305 shares of the stock were exchanged, compared to its average volume of 744,439. The firm has a 50 day moving average of $240.43 and a 200 day moving average of $211.15. The stock has a market cap of $23.22 billion, a PE ratio of 30.83 and a beta of 0.87. VeriSign, Inc. has a twelve month low of $167.05 and a twelve month high of $258.67.

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

Insider Activity

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 transaction, the senior vice president now owns 23,735 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company's stock.

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.