Crewe Advisors LLC Makes New Investment in VeriSign, Inc. (NASDAQ:VRSN)

Crewe Advisors LLC purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the fourth quarter, Holdings Channel reports. The fund purchased 128 shares of the information services provider’s stock, valued at approximately $26,000.

Other institutional investors also recently bought and sold shares of the company. Concord Wealth Partners raised its position in 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 buying an additional 109 shares during the last quarter. Spire Wealth Management raised its position in 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 buying an additional 104 shares during the last quarter. Tobam increased its holdings in shares of VeriSign by 61.1% during the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock valued at $59,000 after purchasing an additional 118 shares in the last quarter. Intact Investment Management Inc. purchased a new position in shares of VeriSign during the 3rd quarter valued at approximately $76,000. Finally, Blue Trust Inc. increased its holdings in shares of 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 in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at $5,033,391.51. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

VeriSign Stock Performance

VeriSign stock opened at $220.18 on Friday. The company’s fifty day moving average price is $204.11 and its 200 day moving average price is $190.11. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $222.25. The stock has a market capitalization of $21.16 billion, a P/E ratio of 25.60 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%.

Wall Street Analysts Forecast Growth

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

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.