SRS Capital Advisors Inc. Purchases 301 Shares of VeriSign, Inc. (NASDAQ:VRSN)

SRS Capital Advisors Inc. increased its position in VeriSign, Inc. (NASDAQ:VRSN) by 381.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380 shares of the information services provider’s stock after acquiring an additional 301 shares during the quarter. SRS Capital Advisors Inc.’s holdings in VeriSign were worth $79,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position 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 worth $81,003,000 after purchasing an additional 330,561 shares during the period. Birch Capital Management LLC grew its stake in shares of VeriSign by 3,996.0% in the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider’s stock valued at $848,000 after purchasing an additional 3,996 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 199,583 shares in the last quarter. Truist Financial Corp grew its position in VeriSign by 12.2% in the fourth quarter. Truist Financial Corp now owns 20,462 shares of the information services provider’s stock valued at $4,235,000 after acquiring an additional 2,218 shares during the period. Finally, MML Investors Services LLC raised its stake in VeriSign by 602.6% during the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider’s stock worth $2,225,000 after acquiring an additional 10,045 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $239.94 on Friday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $242.23. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 29.99 and a beta of 0.87. The firm has a fifty day moving average of $219.53 and a two-hundred day moving average of $197.70.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Insiders Place Their Bets

In related news, SVP John Calys sold 447 shares of VeriSign stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRSN. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Citigroup increased their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Monday.

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.