VeriSign, Inc. (NASDAQ:VRSN) Stake Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 82.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,745 shares of the information services provider's stock after selling 17,973 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in VeriSign were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VRSN. Crewe Advisors LLC purchased a new stake in VeriSign during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC increased its holdings in VeriSign by 127.2% in 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. Spire Wealth Management raised its position in VeriSign by 69.8% in the fourth 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 during the period. Intact Investment Management Inc. purchased a new position in VeriSign in the third quarter valued at about $76,000. Finally, True Wealth Design LLC lifted its stake in shares of VeriSign by 16,966.7% during the third quarter. True Wealth Design LLC now owns 512 shares of the information services provider's stock worth $97,000 after purchasing an additional 509 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

VeriSign Stock Down 0.5 %

Shares of VRSN traded down $1.18 during trading on Tuesday, reaching $238.98. The company's stock had a trading volume of 514,134 shares, compared to its average volume of 800,827. The company has a market cap of $22.61 billion, a price-to-earnings ratio of 29.86 and a beta of 0.87. The company has a fifty day moving average of $217.28 and a two-hundred day moving average of $196.70. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $242.23.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 43.01% and a net margin of 50.47%.

Insiders Place Their Bets

In other VeriSign news, SVP John Calys sold 447 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.

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.