Truist Financial Corp Raises Position in VeriSign, Inc. (NASDAQ:VRSN)

Truist Financial Corp boosted its position in VeriSign, Inc. (NASDAQ:VRSN) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,462 shares of the information services provider’s stock after purchasing an additional 2,218 shares during the period. Truist Financial Corp’s holdings in VeriSign were worth $4,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in VeriSign by 40.0% in the third quarter. Creative Planning now owns 16,984 shares of the information services provider’s stock worth $3,226,000 after acquiring an additional 4,850 shares in the last quarter. Blue Trust Inc. increased its position in shares of VeriSign by 138.6% in the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after buying an additional 244 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in VeriSign by 29.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,912 shares of the information services provider’s stock worth $363,000 after acquiring an additional 440 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of VeriSign during the 3rd quarter worth approximately $227,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of VeriSign by 72.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,100 shares of the information services provider’s stock valued at $2,307,000 after acquiring an additional 5,077 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Price Performance

VeriSign stock opened at $231.87 on Monday. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $236.20. The company has a market capitalization of $21.93 billion, a price-to-earnings ratio of 28.98 and a beta of 0.90. The firm’s fifty day moving average price is $212.33 and its 200 day moving average price is $194.11.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.

Analyst Ratings Changes

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

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.