Retirement Systems of Alabama Invests $4.03 Million in VeriSign, Inc. (NASDAQ:VRSN)

Retirement Systems of Alabama acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,577 shares of the information services provider’s stock, valued at approximately $4,032,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its holdings in VeriSign by 66.0% in the fourth quarter. Addison Advisors LLC now owns 1,205 shares of the information services provider’s stock valued at $248,000 after purchasing an additional 479 shares during the last quarter. Headlands Technologies LLC increased its holdings in VeriSign by 42.3% during the 4th quarter. Headlands Technologies LLC now owns 7,351 shares of the information services provider’s stock valued at $1,514,000 after acquiring an additional 2,185 shares in the last quarter. Truist Financial Corp raised its position in VeriSign by 4.6% during the fourth quarter. Truist Financial Corp now owns 13,374 shares of the information services provider’s stock worth $2,755,000 after acquiring an additional 590 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in shares of VeriSign in the fourth quarter valued at about $213,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of VeriSign in the fourth quarter valued at approximately $261,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Transactions at VeriSign

In related news, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the sale, the chief operating officer now directly owns 111,551 shares in the company, valued at $21,552,768.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total value of $119,737.29. Following the transaction, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Todd B. Strubbe sold 9,423 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the sale, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at approximately $21,552,768.71. The disclosure for this sale can be found here. Insiders have sold a total of 14,139 shares of company stock worth $2,731,971 in the last three months. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

VRSN has been the topic of a number of recent research reports. Citigroup reduced their target price on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Finally, Robert W. Baird dropped their price objective on VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

VeriSign Stock Performance

VRSN stock opened at $168.91 on Tuesday. The company has a 50 day moving average price of $186.45 and a two-hundred day moving average price of $198.17. The stock has a market capitalization of $16.82 billion, a P/E ratio of 20.75 and a beta of 0.89. VeriSign, Inc. has a one year low of $167.04 and a one year high of $229.72.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, April 25th. The information services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.86 by $0.06. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm had revenue of $384.30 million during the quarter, compared to analyst estimates of $381.85 million. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.

VeriSign 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.