Corient Private Wealth LLC Has $2.07 Million Stock Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Corient Private Wealth LLC reduced its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 41.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,998 shares of the information services provider’s stock after selling 7,194 shares during the quarter. Corient Private Wealth LLC’s holdings in VeriSign were worth $2,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRSN. Crewe Advisors LLC bought a new stake in VeriSign during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of VeriSign during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its position in VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock valued at $38,000 after buying an additional 103 shares during the last quarter. BankPlus Trust Department purchased a new position in VeriSign during the 4th quarter worth $49,000. Finally, Spire Wealth Management raised its holdings in shares of VeriSign by 69.8% in the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 104 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Stock Performance

Shares of VRSN stock opened at $245.36 on Tuesday. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 30.67 and a beta of 0.87. VeriSign, Inc. has a 52 week low of $167.05 and a 52 week high of $247.30. The firm’s 50-day simple moving average is $227.18 and its two-hundred day simple moving average is $202.79.

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

Wall Street Analysts Forecast Growth

VRSN has been the topic of several analyst reports. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a report on Friday. Citigroup upped their target price on VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and increased their price target for the company from $200.00 to $250.00 in a research report on Monday, December 9th. Finally, Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

Insider Activity

In other VeriSign news, SVP John Calys sold 447 shares of the stock in a transaction 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 sale, the senior vice president now owns 23,735 shares in the company, valued at $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.84% 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.