CapWealth Advisors LLC Sells 271 Shares of VeriSign, Inc. (NASDAQ:VRSN)

CapWealth Advisors LLC lessened its position in VeriSign, Inc. (NASDAQ:VRSN) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,387 shares of the information services provider’s stock after selling 271 shares during the period. CapWealth Advisors LLC’s holdings in VeriSign were worth $908,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRSN. Crewe Advisors LLC bought a new position in VeriSign during the fourth quarter worth about $26,000. Concord Wealth Partners boosted its stake in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after acquiring an additional 109 shares during the period. Spire Wealth Management increased its holdings in shares of VeriSign by 69.8% during the 4th 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 holdings in VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after purchasing an additional 244 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in VeriSign during the third quarter worth $76,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

VeriSign Stock Down 0.0 %

VRSN stock opened at $229.24 on Friday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $230.30. The business has a 50-day simple moving average of $208.36 and a 200 day simple moving average of $191.98. The company has a market cap of $22.03 billion, a PE ratio of 28.66 and a beta of 0.90.

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

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.