OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 1,087 VeriSign, Inc. (NASDAQ:VRSN)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,087 shares of the information services provider’s stock, valued at approximately $225,000.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in VeriSign by 544.1% in the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock valued at $81,003,000 after purchasing an additional 330,561 shares during the period. Birch Capital Management LLC raised its holdings in VeriSign by 3,996.0% during the fourth quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider’s stock worth $848,000 after purchasing an additional 3,996 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in VeriSign by 322.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock worth $53,639,000 after purchasing an additional 199,583 shares in the last quarter. Truist Financial Corp raised its holdings in VeriSign by 12.2% during the fourth 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. Finally, MML Investors Services LLC raised its holdings in VeriSign by 602.6% during the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider’s stock worth $2,225,000 after purchasing an additional 10,045 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP John Calys sold 447 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.84% of the company’s stock.

VeriSign Trading Up 0.0 %

Shares of VeriSign stock opened at $242.31 on Friday. VeriSign, Inc. has a 12-month low of $167.05 and a 12-month high of $243.05. The stock has a market cap of $22.92 billion, a PE ratio of 30.29 and a beta of 0.87. The company has a 50-day moving average of $225.72 and a two-hundred day moving average of $201.69.

VeriSign (NASDAQ:VRSN) last issued its 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 50.47% and a negative return on equity of 43.01%.

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.