VeriSign (NASDAQ:VRSN) Price Target Raised to $275.00

VeriSign (NASDAQ:VRSN) had its target price raised by equities researchers at Robert W. Baird from $255.00 to $275.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 7.63% from the company’s previous close.

A number of other research firms also recently weighed in on VRSN. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, Citigroup upped their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th.

VeriSign Trading Up 0.2 %

NASDAQ VRSN opened at $255.50 on Tuesday. VeriSign has a 1-year low of $167.05 and a 1-year high of $257.70. The firm’s fifty day simple moving average is $233.13 and its 200-day simple moving average is $206.09. The company has a market capitalization of $24.17 billion, a PE ratio of 31.94 and a beta of 0.87.

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

Insider Activity

In other news, SVP John Calys sold 447 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the transaction, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On VeriSign

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB grew its position in VeriSign by 544.1% in the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock worth $81,003,000 after purchasing an additional 330,561 shares during the last quarter. Birch Capital Management LLC lifted its stake in shares of VeriSign by 3,996.0% in the fourth quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider’s stock valued at $848,000 after buying an additional 3,996 shares during the period. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 199,583 shares in the last quarter. Truist Financial Corp increased its stake in VeriSign by 12.2% during the fourth quarter. Truist Financial Corp now owns 20,462 shares of the information services provider’s stock valued at $4,235,000 after acquiring an additional 2,218 shares during the period. Finally, MML Investors Services LLC raised its holdings in VeriSign by 602.6% in the 3rd quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider’s stock valued at $2,225,000 after acquiring an additional 10,045 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

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.