VeriSign, Inc. (NASDAQ:VRSN) Position Boosted by Waterfront Wealth Inc.

Waterfront Wealth Inc. increased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,495 shares of the information services provider’s stock after acquiring an additional 117 shares during the quarter. Waterfront Wealth Inc.’s holdings in VeriSign were worth $1,137,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of VeriSign during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its stake in shares of 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 during the last quarter. Concord Wealth Partners lifted its stake in shares of VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Spire Wealth Management lifted its position in VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after acquiring an additional 104 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Performance

NASDAQ VRSN opened at $233.88 on Friday. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $234.28. The firm has a 50-day moving average of $210.95 and a 200-day moving average of $193.21. The stock has a market cap of $22.13 billion, a PE ratio of 29.24 and a beta of 0.90.

VeriSign (NASDAQ:VRSNGet Free Report) last released its 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 net margin of 50.47% and a negative return on equity of 43.01%.

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the transaction, the executive vice president now owns 26,157 shares in the company, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their position. 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup upped their target price 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. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird raised shares of 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 research report on Monday, December 9th. Finally, Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

Read Our Latest Stock Analysis on VRSN

About VeriSign

(Free Report)

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

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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