Parallel Advisors LLC cut its stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,865 shares of the information services provider’s stock after selling 355 shares during the period. Parallel Advisors LLC’s holdings in VeriSign were worth $332,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. grew its stake in shares of VeriSign by 7.8% in the fourth quarter. Gilbert & Cook Inc. now owns 2,311 shares of the information services provider’s stock valued at $476,000 after buying an additional 168 shares in the last quarter. Private Advisor Group LLC acquired a new position in VeriSign in the 4th quarter valued at about $248,000. Dimensional Fund Advisors LP grew its position in VeriSign by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 388,400 shares of the information services provider’s stock valued at $79,996,000 after acquiring an additional 2,521 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in VeriSign in the 4th quarter valued at about $264,000. Finally, Norges Bank purchased a new stake in VeriSign during the fourth quarter worth about $207,161,000. 92.90% of the stock is owned by hedge funds and other institutional investors.
VeriSign Stock Performance
Shares of VeriSign stock opened at $179.27 on Thursday. The business has a 50-day simple moving average of $180.37 and a 200-day simple moving average of $180.47. VeriSign, Inc. has a one year low of $167.04 and a one year high of $220.91. The company has a market cap of $17.50 billion, a PE ratio of 22.02 and a beta of 0.90.
Insider Buying and Selling at VeriSign
In other VeriSign news, EVP Thomas C. Indelicarto sold 3,684 shares of VeriSign stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $190.00, for a total transaction of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares of the company’s stock, valued at approximately $7,177,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a research report on Thursday, June 27th.
Check Out Our Latest Report on VRSN
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.
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