Allegiance Financial Group Advisory Services LLC Makes New $230,000 Investment in VeriSign, Inc. (NASDAQ:VRSN)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,109 shares of the information services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also made changes to their positions in VRSN. Whipplewood Advisors LLC acquired a new position in VeriSign in the fourth quarter worth about $26,000. Crewe Advisors LLC acquired a new position in VeriSign in the 4th quarter worth $26,000. Venturi Wealth Management LLC lifted its position in VeriSign by 127.2% during the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after buying an additional 103 shares in the last quarter. BankPlus Trust Department bought a new stake in VeriSign during the 4th quarter worth about $49,000. Finally, Spire Wealth Management raised its holdings in shares of VeriSign by 69.8% in the 4th 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. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Down 0.5 %

NASDAQ VRSN opened at $237.07 on Thursday. The company’s 50 day moving average is $214.87 and its 200-day moving average is $195.25. The firm has a market cap of $22.43 billion, a P/E ratio of 29.63 and a beta of 0.90. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $239.84.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, hitting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Analyst Ratings Changes

Several research firms have weighed in on VRSN. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Citigroup increased 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. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Finally, StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

Insider Activity at VeriSign

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John Calys sold 447 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company 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.