New York State Teachers Retirement System Sells 5,495 Shares of VeriSign, Inc. (NASDAQ:VRSN)

New York State Teachers Retirement System trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 7.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 68,342 shares of the information services provider’s stock after selling 5,495 shares during the quarter. New York State Teachers Retirement System’s holdings in VeriSign were worth $14,144,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of VeriSign in the fourth quarter valued at about $26,000. Concord Wealth Partners increased its position in 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 acquiring an additional 109 shares in the last quarter. Spire Wealth Management raised its stake 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 acquiring an additional 104 shares during the last quarter. Blue Trust Inc. lifted its position in shares of VeriSign by 138.6% during the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after purchasing an additional 244 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of VeriSign during the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Trading Down 0.0 %

NASDAQ:VRSN opened at $229.24 on Tuesday. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $230.30. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 28.66 and a beta of 0.90. The business’s 50-day moving average price is $209.13 and its two-hundred day moving average price is $192.35.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 44.06%.

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $250.00 in a research report on Monday, December 9th. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Citigroup lifted their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th.

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.