Vinva Investment Management Ltd Sells 1,895 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Vinva Investment Management Ltd reduced its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 16.6% in the fourth quarter, HoldingsChannel reports. The firm owned 9,507 shares of the information services provider’s stock after selling 1,895 shares during the quarter. Vinva Investment Management Ltd’s holdings in VeriSign were worth $1,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in VRSN. Whipplewood Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at about $26,000. Crewe Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC lifted its position in shares of VeriSign by 127.2% during the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock valued at $38,000 after buying an additional 103 shares in the last quarter. BankPlus Trust Department purchased a new position in VeriSign in the 4th quarter worth approximately $49,000. Finally, Spire Wealth Management lifted its holdings in 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. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Up 0.0 %

Shares of VeriSign stock opened at $242.31 on Friday. VeriSign, Inc. has a 52 week low of $167.05 and a 52 week high of $243.05. The company has a market capitalization of $22.92 billion, a PE ratio of 30.29 and a beta of 0.87. The stock’s fifty day moving average is $225.72 and its two-hundred day moving average is $201.69.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Finally, Citigroup boosted 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.

Insiders Place Their Bets

In related news, SVP John Calys sold 447 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.84% of the company’s stock.

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.