VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC cut its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,548 shares of the information services provider’s stock after selling 113 shares during the period. HB Wealth Management LLC’s holdings in VeriSign were worth $320,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Concord Wealth Partners increased its holdings in shares of 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 during the period. Tobam grew its position in VeriSign by 61.1% during the third quarter. Tobam now owns 311 shares of the information services provider’s stock worth $59,000 after buying an additional 118 shares during the period. Blue Trust Inc. raised its stake in shares of VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after buying an additional 244 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of VeriSign in the third quarter valued at about $76,000. Finally, True Wealth Design LLC raised its holdings in shares of VeriSign by 16,966.7% in the third quarter. True Wealth Design LLC now owns 512 shares of the information services provider’s stock worth $97,000 after acquiring an additional 509 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Price Performance

Shares of VRSN opened at $206.65 on Friday. The stock has a market capitalization of $19.86 billion, a PE ratio of 24.03 and a beta of 0.89. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $213.68. The business’s fifty day moving average price is $197.85 and its 200 day moving average price is $187.50.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. The business had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS.

Wall Street Analyst Weigh In

VRSN has been the topic of several recent analyst reports. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup boosted their price objective on shares of VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and raised their target price for the company from $200.00 to $250.00 in a research note on Monday, December 9th.

Insider Activity at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

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.