VeriSign (NASDAQ:VRSN) Price Target Raised to $250.00

VeriSign (NASDAQ:VRSN) had its price objective lifted by Citigroup from $246.00 to $250.00 in a research report report published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price target for the company from $200.00 to $250.00 in a report on Monday, December 9th. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

VeriSign Trading Up 1.1 %

Shares of VeriSign stock opened at $218.50 on Tuesday. VeriSign has a 1-year low of $167.04 and a 1-year high of $219.57. The firm’s 50-day moving average price is $202.86 and its two-hundred day moving average price is $189.61. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 25.41 and a beta of 0.90.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign 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 sale, the executive vice president now directly owns 26,157 shares in the company, valued at $5,033,391.51. This trade represents 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 the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in VeriSign in the fourth quarter valued at approximately $141,129,000. Nordea Investment Management AB raised its position in shares of VeriSign by 544.1% during the 4th 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 last quarter. Canoe Financial LP acquired a new position in shares of VeriSign in the 3rd quarter valued at $46,455,000. Allspring Global Investments Holdings LLC boosted its position in shares of VeriSign by 322.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock worth $53,639,000 after purchasing an additional 199,583 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of VeriSign during the third quarter worth $35,665,000. Institutional investors own 92.90% of the company’s stock.

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.