Ninety One UK Ltd Lowers Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Ninety One UK Ltd cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,911,460 shares of the information services provider’s stock after selling 17,739 shares during the period. VeriSign accounts for 2.2% of Ninety One UK Ltd’s holdings, making the stock its 11th biggest holding. Ninety One UK Ltd owned about 4.07% of VeriSign worth $809,516,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Asset Management Advisors LLC raised its position in shares of VeriSign by 1.8% in the 4th quarter. Asset Management Advisors LLC now owns 29,195 shares of the information services provider’s stock worth $6,042,000 after acquiring an additional 525 shares in the last quarter. Willis Investment Counsel grew its stake in VeriSign by 12.9% in the fourth quarter. Willis Investment Counsel now owns 2,214 shares of the information services provider’s stock valued at $458,000 after purchasing an additional 253 shares during the last quarter. Spire Wealth Management raised its holdings in VeriSign by 69.8% in the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after purchasing an additional 104 shares in the last quarter. SYM FINANCIAL Corp lifted its position in shares of VeriSign by 17.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,643 shares of the information services provider’s stock valued at $340,000 after buying an additional 240 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of VeriSign in the 4th quarter worth approximately $521,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRSN has been the subject of a number of analyst reports. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $200.00 to $250.00 in a research note on Monday, December 9th. Citigroup lifted their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

VeriSign Trading Up 1.1 %

Shares of NASDAQ:VRSN opened at $218.50 on Wednesday. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $219.57. The business has a 50 day moving average of $202.86 and a two-hundred day moving average of $189.61. The company has a market capitalization of $21.00 billion, a PE ratio of 25.41 and a beta of 0.90.

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.