Proficio Capital Partners LLC Takes $11.87 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

Proficio Capital Partners LLC bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,328 shares of the information services provider’s stock, valued at approximately $11,865,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in shares of VeriSign during the 3rd quarter worth about $227,000. abrdn plc raised its position in VeriSign by 24.2% in the third quarter. abrdn plc now owns 23,623 shares of the information services provider’s stock worth $4,477,000 after purchasing an additional 4,599 shares in the last quarter. New York State Common Retirement Fund lifted its stake in VeriSign by 6.2% during the third quarter. New York State Common Retirement Fund now owns 100,422 shares of the information services provider’s stock worth $19,076,000 after purchasing an additional 5,900 shares during the period. Farther Finance Advisors LLC boosted its holdings in VeriSign by 68.1% during the third quarter. Farther Finance Advisors LLC now owns 854 shares of the information services provider’s stock valued at $162,000 after purchasing an additional 346 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of VeriSign by 1.4% in the 3rd quarter. Van ECK Associates Corp now owns 23,150 shares of the information services provider’s stock valued at $4,300,000 after purchasing an additional 327 shares during the period. 92.90% of the stock is owned by institutional investors.

VeriSign Price Performance

Shares of VRSN opened at $237.88 on Monday. The company has a market capitalization of $22.50 billion, a P/E ratio of 29.74 and a beta of 0.90. VeriSign, Inc. has a one year low of $167.04 and a one year high of $239.95. The business’s 50 day simple moving average is $216.48 and its 200-day simple moving average is $196.26.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, hitting analysts’ consensus estimates of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.

Analyst Upgrades and Downgrades

Several research firms recently commented on VRSN. Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Citigroup increased their price objective on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $250.00 in a research report on Monday, December 9th.

Insider Buying and Selling

In other VeriSign news, SVP John Calys sold 447 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the transaction, the senior vice president now directly owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by corporate insiders.

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.