Northstar Advisory Group LLC Has $1.28 Million Stock Position in VeriSign, Inc. $VRSN

Northstar Advisory Group LLC increased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 100.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,564 shares of the information services provider’s stock after purchasing an additional 2,292 shares during the period. Northstar Advisory Group LLC’s holdings in VeriSign were worth $1,276,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after acquiring an additional 40 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in VeriSign by 12.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock valued at $313,000 after purchasing an additional 135 shares during the last quarter. NewEdge Advisors LLC boosted its position in VeriSign by 104.5% during the first quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock worth $1,047,000 after purchasing an additional 2,108 shares during the period. Jones Financial Companies Lllp boosted its position in VeriSign by 122.1% during the first quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock worth $852,000 after purchasing an additional 1,846 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of VeriSign by 2.0% in the first quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock valued at $2,373,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Up 0.4%

Shares of VRSN opened at $251.54 on Tuesday. VeriSign, Inc. has a 12 month low of $209.79 and a 12 month high of $310.60. The firm’s 50 day moving average is $247.34 and its 200-day moving average is $261.84. The stock has a market capitalization of $23.32 billion, a PE ratio of 29.32 and a beta of 0.77.

Insider Buying and Selling

In other VeriSign news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total transaction of $496,560.00. Following the transaction, the chief executive officer owned 414,099 shares in the company, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $248.71, for a total value of $123,857.58. Following the sale, the executive vice president owned 30,613 shares of the company’s stock, valued at approximately $7,613,759.23. The trade was a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,833 shares of company stock worth $10,041,648 in the last three months. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VRSN shares. Robert W. Baird set a $325.00 target price on shares of VeriSign in a research note on Friday, October 24th. Zacks Research downgraded shares of VeriSign from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. boosted their price objective on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Finally, Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, VeriSign currently has an average rating of “Hold” and a consensus target price of $282.00.

VeriSign Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.