Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Verisign from a hold rating to a buy rating and set a $224.00 target price for the company in a research note on Tuesday, April 30th. Robert W. Baird lifted their target price on shares of Verisign from $210.00 to $240.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $204.75.
VRSN stock traded down $3.33 during trading on Thursday, hitting $209.47. The company had a trading volume of 428,732 shares, compared to its average volume of 605,103. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 44.10 and a beta of 1.03. The firm has a 50 day moving average of $213.13. Verisign has a 52-week low of $131.28 and a 52-week high of $221.78.
In related news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $213.50, for a total value of $122,762.50. Following the completion of the sale, the director now directly owns 34,251 shares in the company, valued at approximately $7,312,588.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its stake in Verisign by 3.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,578 shares of the information services provider’s stock valued at $278,000 after acquiring an additional 51 shares during the period. Cornerstone Advisors Inc. lifted its stake in Verisign by 35.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 54 shares during the period. First Republic Investment Management Inc. lifted its stake in Verisign by 3.4% during the 1st quarter. First Republic Investment Management Inc. now owns 1,737 shares of the information services provider’s stock valued at $315,000 after acquiring an additional 57 shares during the period. Fisher Asset Management LLC lifted its stake in Verisign by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 2,587 shares of the information services provider’s stock valued at $541,000 after acquiring an additional 57 shares during the period. Finally, Suntrust Banks Inc. lifted its stake in Verisign by 3.8% during the 4th quarter. Suntrust Banks Inc. now owns 1,813 shares of the information services provider’s stock valued at $269,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 91.55% of the company’s stock.
Verisign Company Profile
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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