Frank Rimerman Advisors LLC Sells 173 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Frank Rimerman Advisors LLC lessened its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,333 shares of the information services provider’s stock after selling 173 shares during the period. Frank Rimerman Advisors LLC’s holdings in VeriSign were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in VeriSign during the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in shares of VeriSign in the 4th quarter worth $26,000. Venturi Wealth Management LLC boosted its position in shares of VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after purchasing an additional 103 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of VeriSign in the 4th quarter worth $49,000. Finally, Spire Wealth Management boosted its position in shares of VeriSign by 69.8% in the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Insider Activity

In other news, SVP John Calys sold 447 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $231.75, for a total transaction of $103,592.25. Following the sale, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

VeriSign Price Performance

Shares of VRSN stock opened at $238.35 on Monday. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 29.79 and a beta of 0.87. The business has a fifty day moving average of $223.32 and a 200 day moving average of $200.33. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $242.23.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data 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 negative return on equity of 43.01% and a net margin of 50.47%.

Wall Street Analyst Weigh In

VRSN has been the subject of a number of recent analyst reports. Citigroup raised their price objective on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $200.00 to $250.00 in a research report on Monday, December 9th.

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.