6,689 Shares in VeriSign, Inc. (NASDAQ:VRSN) Bought by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,689 shares of the information services provider’s stock, valued at approximately $1,384,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VRSN. Crewe Advisors LLC purchased a new position in VeriSign in the fourth quarter worth approximately $26,000. Concord Wealth Partners grew its stake in shares of VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after purchasing an additional 109 shares in the last quarter. Spire Wealth Management grew its stake in shares of VeriSign by 69.8% during the fourth 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. Blue Trust Inc. increased its holdings in VeriSign by 138.6% in the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after buying an additional 244 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in VeriSign in the third quarter valued at $76,000. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Stock Up 0.5 %

VRSN opened at $221.39 on Monday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $224.00. The business’s 50 day moving average is $205.36 and its two-hundred day moving average is $190.73. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of 27.67 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 44.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRSN shares. Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Robert W. Baird raised shares of 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 report on Monday, December 9th. Citigroup boosted their price objective on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

Insider Transactions at VeriSign

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, the executive vice president now owns 26,157 shares in the company, valued at $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.