VeriSign, Inc. (NASDAQ:VRSN) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 12.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,462 shares of the information services provider’s stock after purchasing an additional 2,218 shares during the quarter. Truist Financial Corp’s holdings in VeriSign were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of VeriSign in the fourth quarter worth $141,129,000. Nordea Investment Management AB lifted its holdings in VeriSign by 544.1% in the fourth 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 period. Canoe Financial LP acquired a new stake in VeriSign in the third quarter worth about $46,455,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of VeriSign by 322.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock valued at $53,639,000 after acquiring an additional 199,583 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in VeriSign during the 3rd quarter valued at $35,665,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares in the company, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

VeriSign Stock Performance

Shares of VRSN opened at $231.87 on Monday. The business’s fifty day moving average price is $212.33 and its two-hundred day moving average price is $194.11. The firm has a market capitalization of $21.93 billion, a price-to-earnings ratio of 28.98 and a beta of 0.90. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $236.20.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (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%.

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.