Crestmont Private Wealth LLC Has $568,000 Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Crestmont Private Wealth LLC lifted its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,745 shares of the information services provider’s stock after buying an additional 122 shares during the quarter. VeriSign comprises approximately 0.3% of Crestmont Private Wealth LLC’s investment portfolio, making the stock its 28th largest holding. Crestmont Private Wealth LLC’s holdings in VeriSign were worth $568,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VRSN. Troy Asset Management Ltd bought a new position in shares of VeriSign during the 2nd quarter worth about $109,040,000. Mackenzie Financial Corp boosted its holdings in VeriSign by 836.8% in the second quarter. Mackenzie Financial Corp now owns 473,187 shares of the information services provider’s stock worth $84,133,000 after acquiring an additional 422,676 shares in the last quarter. Nordea Investment Management AB grew its stake 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 valued at $81,003,000 after acquiring an additional 330,561 shares during the period. Canoe Financial LP bought a new stake in shares of VeriSign during the third quarter valued at approximately $46,455,000. Finally, AQR Capital Management LLC lifted its holdings in shares of VeriSign by 44.5% in the 2nd quarter. AQR Capital Management LLC now owns 788,687 shares of the information services provider’s stock worth $139,771,000 after purchasing an additional 242,884 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Down 0.3 %

Shares of NASDAQ VRSN opened at $209.00 on Wednesday. The company has a market capitalization of $20.08 billion, a PE ratio of 24.30 and a beta of 0.89. The stock’s 50 day moving average price is $194.90 and its 200-day moving average price is $186.16. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $213.68.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The firm had revenue of $390.60 million during the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VRSN shares. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Citigroup increased their price objective on VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $200.00 to $250.00 in a research report on Monday, December 9th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Insider Activity

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at $5,033,391.51. The trade was a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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.