Avestar Capital LLC Invests $204,000 in VeriSign, Inc. (NASDAQ:VRSN)

Avestar Capital LLC acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, Holdings Channel reports. The fund acquired 984 shares of the information services provider’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of VeriSign in the fourth quarter worth approximately $141,129,000. Nordea Investment Management AB raised its holdings in VeriSign by 544.1% in the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock worth $81,003,000 after acquiring an additional 330,561 shares during the last quarter. Canoe Financial LP bought a new position in VeriSign in the 3rd quarter valued at approximately $46,455,000. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $53,639,000 after acquiring an additional 199,583 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in VeriSign during the 3rd quarter valued at $35,665,000. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Down 0.0 %

VeriSign stock opened at $229.24 on Friday. The business has a 50-day simple moving average of $209.13 and a two-hundred day simple moving average of $192.27. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $230.30. The company has a market cap of $22.03 billion, a P/E ratio of 28.66 and a beta of 0.90.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 44.06%.

Insider Activity at VeriSign

In other 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 transaction of $402,563.56. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

VRSN has been the topic of a number of research analyst reports. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and upped their price target for the company from $200.00 to $250.00 in a report on Monday, December 9th. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Citigroup raised their target price on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th.

VeriSign 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.