Physician Wealth Advisors Inc. Buys New Stake in VeriSign, Inc. (NASDAQ:VRSN)

Physician Wealth Advisors Inc. bought a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 260 shares of the information services provider’s stock, valued at approximately $54,000.

A number of other hedge funds also recently bought and sold shares of VRSN. Norges Bank bought a new stake in shares of VeriSign in the fourth quarter valued at approximately $222,840,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in VeriSign in the 4th quarter valued at $141,129,000. Nordea Investment Management AB boosted its holdings 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 valued at $81,003,000 after purchasing an additional 330,561 shares during the period. Troy Asset Management Ltd grew its position in VeriSign by 49.1% in the 4th quarter. Troy Asset Management Ltd now owns 914,543 shares of the information services provider’s stock worth $189,274,000 after purchasing an additional 301,267 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of VeriSign by 322.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock worth $53,639,000 after purchasing an additional 199,583 shares during the period. 92.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VRSN has been the topic of a number of recent research reports. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Citigroup lifted their price objective on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $200.00 to $250.00 in a research report on Monday, December 9th. Finally, StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

Insider Buying and Selling at VeriSign

In other news, SVP John Calys sold 447 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the transaction, the senior vice president now directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

VeriSign Price Performance

VeriSign stock opened at $253.87 on Tuesday. The business has a 50 day simple moving average of $231.27 and a 200 day simple moving average of $205.23. VeriSign, Inc. has a one year low of $167.05 and a one year high of $257.14. The company has a market capitalization of $24.02 billion, a PE ratio of 31.73 and a beta of 0.87.

VeriSign (NASDAQ:VRSN) last issued its 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 net margin of 50.47% and a negative return on equity of 43.01%.

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.