VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Shariaportfolio Inc.

Shariaportfolio Inc. lowered its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,660 shares of the information services provider’s stock after selling 206 shares during the quarter. VeriSign makes up approximately 0.9% of Shariaportfolio Inc.’s holdings, making the stock its 16th biggest holding. Shariaportfolio Inc.’s holdings in VeriSign were worth $1,999,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in VeriSign during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its position in VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after acquiring an additional 103 shares during the last quarter. Concord Wealth Partners boosted its position in 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 acquiring an additional 109 shares during the last quarter. Spire Wealth Management boosted its position in 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 acquiring an additional 104 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in VeriSign by 46.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 272 shares of the information services provider’s stock worth $56,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Down 0.9 %

Shares of VRSN opened at $231.87 on Monday. The firm has a market cap of $21.93 billion, a PE ratio of 28.98 and a beta of 0.90. The company’s fifty day moving average is $212.33 and its two-hundred day moving average is $194.11. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $236.20.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Wall Street Analyst Weigh In

VRSN has been the topic of a number of analyst reports. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $200.00 to $250.00 in a research report on Monday, December 9th. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, Citigroup lifted their price target on shares of VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 4th.

Insider Activity at VeriSign

In related 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.