Elevate Capital Advisors LLC Acquires Shares of 6,689 VeriSign, Inc. (NASDAQ:VRSN)

Elevate Capital Advisors LLC bought a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,689 shares of the information services provider’s stock, valued at approximately $1,384,000.

Other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC boosted its position in VeriSign by 1.9% during the third quarter. Empirical Finance LLC now owns 3,038 shares of the information services provider’s stock worth $577,000 after purchasing an additional 57 shares in the last quarter. West Family Investments Inc. lifted its position in shares of VeriSign by 3.9% during the 3rd quarter. West Family Investments Inc. now owns 1,537 shares of the information services provider’s stock valued at $292,000 after buying an additional 57 shares in the last quarter. CX Institutional increased its holdings in VeriSign by 5.1% in the 4th quarter. CX Institutional now owns 1,173 shares of the information services provider’s stock worth $243,000 after acquiring an additional 57 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in VeriSign by 5.5% during 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 period. Finally, Hantz Financial Services Inc. lifted its holdings in VeriSign by 2.7% during the fourth quarter. Hantz Financial Services Inc. now owns 3,125 shares of the information services provider’s stock valued at $647,000 after purchasing an additional 81 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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 stock was 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 in the company, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VRSN shares. Citigroup upped their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and increased their target price for the company from $200.00 to $250.00 in a report on Monday, December 9th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

VeriSign Trading Up 0.5 %

VRSN stock opened at $221.39 on Monday. The firm has a 50-day moving average of $205.36 and a two-hundred day moving average of $190.73. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $224.00. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 27.67 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, hitting analysts’ consensus estimates of $2.00. VeriSign had a negative return on equity of 44.06% and a net margin of 50.47%.

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.