Bryn Mawr Capital Management LLC Invests $214,000 in VeriSign, Inc. (NASDAQ:VRSN)

Bryn Mawr Capital Management LLC purchased a new position in VeriSign, Inc. (NASDAQ:VRSN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,035 shares of the information services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Convergence Investment Partners LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $1,851,000. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of VeriSign by 83.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,562 shares of the information services provider’s stock worth $944,000 after purchasing an additional 2,077 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of VeriSign in the 4th quarter worth approximately $141,129,000. Venturi Wealth Management LLC boosted its position in shares of VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after purchasing an additional 103 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider’s stock worth $4,235,000 after purchasing an additional 2,218 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Trading Down 0.9 %

VRSN stock opened at $231.87 on Friday. The stock has a market capitalization of $21.93 billion, a PE ratio of 28.98 and a beta of 0.90. The stock’s 50 day simple moving average is $211.65 and its 200 day simple moving average is $193.50. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $236.20.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share 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 43.01%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VRSN shares. Citigroup upped their price objective on VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $200.00 to $250.00 in a research report on Monday, December 9th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 26,157 shares in the company, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.

VeriSign 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.