VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lessened its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 11.1% during the fourth quarter, HoldingsChannel reports. The fund owned 61,488 shares of the information services provider’s stock after selling 7,687 shares during the quarter. VeriSign accounts for about 2.7% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 6th biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in VeriSign were worth $12,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in VeriSign during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in VeriSign during the fourth quarter worth $26,000. Venturi Wealth Management LLC raised its position 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 buying an additional 103 shares during the last quarter. BankPlus Trust Department bought a new position in VeriSign during the 4th quarter valued at $49,000. Finally, Spire Wealth Management boosted its holdings 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. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Up 0.4 %

VRSN opened at $254.98 on Wednesday. VeriSign, Inc. has a twelve month low of $167.05 and a twelve month high of $257.70. The company’s 50-day moving average price is $232.16 and its two-hundred day moving average price is $205.74. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 31.87 and a beta of 0.87.

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

Insider Activity

In other news, SVP John Calys sold 447 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares of the company’s stock, valued at $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on VRSN shares. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Robert W. Baird lifted their target price on shares of VeriSign from $255.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Citigroup lifted their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th.

About VeriSign

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.