VeriSign (NASDAQ:VRSN – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Several other research analysts have also recently issued reports on VRSN. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $216.00 to $265.00 in a report on Thursday, December 15th. Citigroup increased their price objective on VeriSign from $243.00 to $252.00 and gave the company a “buy” rating in a report on Monday, February 13th.
VeriSign Price Performance
Shares of VRSN stock opened at $213.06 on Friday. VeriSign has a 1 year low of $155.25 and a 1 year high of $224.56. The firm has a fifty day moving average price of $205.00 and a 200-day moving average price of $198.26. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 34.09 and a beta of 1.01.
Insider Buying and Selling
In other VeriSign news, EVP Danny R. Mcpherson sold 125 shares of VeriSign stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $201.88, for a total value of $25,235.00. Following the completion of the transaction, the executive vice president now directly owns 27,536 shares of the company’s stock, valued at approximately $5,558,967.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $206.49, for a total transaction of $126,578.37. Following the completion of the sale, the executive vice president now owns 38,406 shares in the company, valued at approximately $7,930,454.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Danny R. Mcpherson sold 125 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $201.88, for a total transaction of $25,235.00. Following the transaction, the executive vice president now owns 27,536 shares in the company, valued at $5,558,967.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,473 shares of company stock valued at $12,975,131. 0.98% of the stock is currently owned by insiders.
Hedge Funds Weigh In On VeriSign
Several hedge funds have recently bought and sold shares of the stock. Pitcairn Co. increased its position in VeriSign by 1.5% during the fourth quarter. Pitcairn Co. now owns 3,750 shares of the information services provider’s stock worth $770,000 after purchasing an additional 54 shares during the last quarter. Spire Wealth Management lifted its holdings in VeriSign by 13.3% in the 4th quarter. Spire Wealth Management now owns 468 shares of the information services provider’s stock worth $96,000 after buying an additional 55 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of VeriSign by 3.2% during the fourth quarter. Gilbert & Cook Inc. now owns 1,808 shares of the information services provider’s stock valued at $371,000 after acquiring an additional 56 shares in the last quarter. Veriti Management LLC grew its stake in VeriSign by 3.7% during the 3rd quarter. Veriti Management LLC now owns 1,726 shares of the information services provider’s stock valued at $300,000 after purchasing an additional 61 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in VeriSign by 1.7% in the third quarter. Synovus Financial Corp now owns 3,795 shares of the information services provider’s stock valued at $659,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.
About VeriSign
VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.
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