By otakuyassine3@gmail.com 
Envestnet Asset Management Inc. cut its holdings in VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 104,554 shares of the information services provider’s stock after selling 7,788 shares during the quarter. Envestnet Asset Management Inc.’s holdings in VeriSign were worth $21,638,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in VeriSign in the 4th quarter valued at $222,840,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of VeriSign in the 4th quarter valued at about $141,129,000. Nordea Investment Management AB lifted its holdings in shares of VeriSign by 544.1% in the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock valued at $81,003,000 after purchasing an additional 330,561 shares in the last quarter. Troy Asset Management Ltd boosted its position in shares of VeriSign by 49.1% during the fourth quarter. Troy Asset Management Ltd now owns 914,543 shares of the information services provider’s stock worth $189,274,000 after buying an additional 301,267 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of VeriSign by 322.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock worth $53,639,000 after buying an additional 199,583 shares in the last quarter. 92.90% of the stock is owned by institutional investors.
Insider Activity
In related news, SVP John Calys sold 447 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.
Wall Street Analysts Forecast Growth
VRSN has been the subject of a number of recent research reports. Robert W. Baird upped their price target on VeriSign from $255.00 to $275.00 and gave the stock an “outperform” rating in a research report 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 lifted their price target 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.
Get Our Latest Stock Analysis on VeriSign
VeriSign Stock Up 0.0 %
VRSN stock opened at $247.22 on Tuesday. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 30.90 and a beta of 0.87. VeriSign, Inc. has a twelve month low of $167.05 and a twelve month high of $258.67. The business has a 50 day moving average price of $238.85 and a two-hundred day moving average price of $210.24.
VeriSign (NASDAQ:VRSN – Get Free Report) last released its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.
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.
Further Reading
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