Truist Financial Corp Buys 590 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Truist Financial Corp raised its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,374 shares of the information services provider’s stock after purchasing an additional 590 shares during the period. Truist Financial Corp’s holdings in VeriSign were worth $2,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC grew its stake in shares of VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 52 shares during the period. Baldwin Brothers LLC MA lifted its holdings in VeriSign by 158.6% during the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 111 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of VeriSign by 251.5% in the third quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock worth $72,000 after purchasing an additional 254 shares during the period. CX Institutional purchased a new stake in shares of VeriSign in the fourth quarter worth $79,000. Finally, GAMMA Investing LLC bought a new stake in shares of VeriSign during the 4th quarter valued at $97,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of NASDAQ VRSN opened at $169.56 on Wednesday. The firm’s fifty day moving average is $185.97 and its two-hundred day moving average is $197.90. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $229.72. The company has a market cap of $16.89 billion, a P/E ratio of 20.83 and a beta of 0.89.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm had revenue of $384.30 million for the quarter, compared to analysts’ expectations of $381.85 million. During the same period in the previous year, the firm posted $1.70 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird cut their price target on VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Finally, Citigroup lowered their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the completion of the transaction, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Danny R. Mcpherson sold 2,875 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $194.19, for a total value of $558,296.25. Following the completion of the sale, the executive vice president now directly owns 30,895 shares of the company’s stock, valued at approximately $5,999,500.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total value of $119,737.29. Following the completion of the transaction, the executive vice president now owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The disclosure for this sale can be found here. Insiders have sold 14,139 shares of company stock valued at $2,731,971 in the last ninety days. Corporate 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.