VeriSign (NASDAQ:VRSN) PT Lowered to $237.00

VeriSign (NASDAQ:VRSNGet Free Report) had its price target decreased by equities researchers at Citigroup from $238.00 to $237.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Citigroup’s price target would indicate a potential upside of 21.02% from the stock’s current price.

Separately, StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Friday, December 8th.

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VeriSign Stock Performance

Shares of NASDAQ VRSN traded down $2.54 during midday trading on Monday, reaching $195.84. The company’s stock had a trading volume of 1,132,777 shares, compared to its average volume of 549,924. The company has a market cap of $20.00 billion, a P/E ratio of 24.73 and a beta of 0.90. VeriSign has a fifty-two week low of $188.44 and a fifty-two week high of $229.72. The business’s 50 day moving average price is $205.14 and its two-hundred day moving average price is $205.57.

Insider Activity at VeriSign

In related news, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $209.36, for a total transaction of $1,046,800.00. Following the sale, the chief executive officer now directly owns 548,306 shares in the company, valued at approximately $114,793,344.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the sale, the executive vice president now directly owns 34,816 shares in the company, valued at $6,930,124.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $209.36, for a total value of $1,046,800.00. Following the completion of the transaction, the chief executive officer now owns 548,306 shares of the company’s stock, valued at approximately $114,793,344.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,202 shares of company stock worth $9,476,462. 0.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On VeriSign

Institutional investors and hedge funds have recently made changes to their positions in the business. Stifel Financial Corp increased its holdings in shares of VeriSign by 5.3% during the fourth quarter. Stifel Financial Corp now owns 19,942 shares of the information services provider’s stock valued at $4,107,000 after acquiring an additional 1,011 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of VeriSign by 51.2% in the fourth quarter. TD Asset Management Inc now owns 330,291 shares of the information services provider’s stock worth $68,027,000 after acquiring an additional 111,911 shares during the period. Hsbc Holdings PLC lifted its holdings in VeriSign by 59.2% in the fourth quarter. Hsbc Holdings PLC now owns 316,132 shares of the information services provider’s stock valued at $64,987,000 after acquiring an additional 117,597 shares during the period. Intech Investment Management LLC raised its position in VeriSign by 24.1% in the fourth quarter. Intech Investment Management LLC now owns 33,519 shares of the information services provider’s stock worth $6,904,000 after acquiring an additional 6,510 shares during the period. Finally, Johnson Financial Group Inc. lifted its position in VeriSign by 133.7% during the fourth quarter. Johnson Financial Group Inc. now owns 1,409 shares of the information services provider’s stock valued at $290,000 after purchasing an additional 806 shares in the last quarter. Institutional investors own 90.95% of the company’s stock.

VeriSign Company Profile

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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 the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.

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