Waterfront Wealth Inc. Purchases 117 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Waterfront Wealth Inc. boosted its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 2.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,495 shares of the information services provider’s stock after purchasing an additional 117 shares during the period. Waterfront Wealth Inc.’s holdings in VeriSign were worth $1,137,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in VeriSign during the fourth quarter valued at about $26,000. Venturi Wealth Management LLC grew its position in VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 103 shares during the last quarter. Concord Wealth Partners grew its position in VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 109 shares during the last quarter. Spire Wealth Management grew its holdings in shares of VeriSign by 69.8% in the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after purchasing an additional 104 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of VeriSign in the third quarter worth approximately $76,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in 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. Citigroup lifted their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Finally, StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares in the company, valued at $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 available at the SEC website. 0.84% of the stock is currently owned by insiders.

VeriSign Price Performance

NASDAQ:VRSN opened at $233.88 on Friday. The business has a 50 day simple moving average of $210.95 and a 200-day simple moving average of $193.21. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $234.28. The firm has a market capitalization of $22.13 billion, a price-to-earnings ratio of 29.24 and a beta of 0.90.

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

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.