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

Corebridge Financial Inc. cut its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,636 shares of the information services provider’s stock after selling 1,535 shares during the period. Corebridge Financial Inc.’s holdings in VeriSign were worth $4,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VRSN. Sequoia Financial Advisors LLC grew its position in shares of VeriSign by 2.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,960 shares of the information services provider’s stock valued at $406,000 after purchasing an additional 48 shares during the last quarter. HighTower Advisors LLC lifted its stake in VeriSign by 1.8% in the 4th quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider’s stock valued at $674,000 after buying an additional 56 shares in the last quarter. CX Institutional grew its holdings in VeriSign by 5.1% during the 4th quarter. CX Institutional now owns 1,173 shares of the information services provider’s stock valued at $243,000 after buying an additional 57 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in VeriSign by 4.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider’s stock worth $304,000 after buying an additional 64 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of VeriSign by 5.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider’s stock worth $296,000 after acquiring an additional 74 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRSN has been the topic of a number of analyst reports. Citigroup increased their price objective on VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, 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.

VeriSign Trading Down 1.5 %

Shares of NASDAQ:VRSN opened at $250.92 on Monday. VeriSign, Inc. has a 12-month low of $167.05 and a 12-month high of $256.35. The stock’s 50-day moving average price is $230.38 and its two-hundred day moving average price is $204.71. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 31.37 and a beta of 0.87.

VeriSign (NASDAQ:VRSN) last released 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%.

Insider Activity

In related news, SVP John Calys sold 447 shares of VeriSign stock in a transaction on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the transaction, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

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.