Crewe Advisors LLC Makes New $26,000 Investment in VeriSign, Inc. (NASDAQ:VRSN)

Crewe Advisors LLC bought a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 128 shares of the information services provider’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners grew its holdings in VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after acquiring an additional 109 shares in the last quarter. Spire Wealth Management grew its holdings in VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after acquiring an additional 104 shares in the last quarter. Tobam grew its holdings in VeriSign by 61.1% during the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock worth $59,000 after acquiring an additional 118 shares in the last quarter. Intact Investment Management Inc. bought a new position in VeriSign during the 3rd quarter worth about $76,000. Finally, Blue Trust Inc. grew its holdings in VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after acquiring an additional 244 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

Insider Activity at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

VeriSign Stock Performance

NASDAQ:VRSN opened at $220.18 on Friday. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $222.25. The stock has a market capitalization of $21.16 billion, a P/E ratio of 25.60 and a beta of 0.90. The company’s 50-day simple moving average is $204.11 and its 200-day simple moving average is $190.11.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data 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 net margin of 55.74% and a negative return on equity of 45.59%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VRSN shares. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $200.00 to $250.00 in a 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. Citigroup raised 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. Finally, Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th.

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.