Strategy Asset Managers LLC Invests $654,000 in VeriSign, Inc. $VRSN

Strategy Asset Managers LLC bought a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,341 shares of the information services provider’s stock, valued at approximately $654,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of VeriSign by 0.7% in the second quarter. Vanguard Group Inc. now owns 10,582,645 shares of the information services provider’s stock worth $3,056,268,000 after buying an additional 68,355 shares in the last quarter. State Street Corp increased its stake in VeriSign by 1.9% in the 2nd quarter. State Street Corp now owns 3,932,243 shares of the information services provider’s stock worth $1,135,632,000 after acquiring an additional 73,931 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of VeriSign by 32.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock worth $894,414,000 after acquiring an additional 767,363 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of VeriSign by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,326,799 shares of the information services provider’s stock valued at $670,685,000 after acquiring an additional 44,751 shares during the last quarter. Finally, Norges Bank bought a new position in shares of VeriSign during the 2nd quarter valued at approximately $300,249,000. 92.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total value of $496,560.00. Following the transaction, the chief executive officer directly owned 414,099 shares in the company, valued at approximately $102,812,499.72. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $248.71, for a total transaction of $123,857.58. Following the completion of the transaction, the executive vice president directly owned 30,613 shares in the company, valued at $7,613,759.23. This represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,333 shares of company stock valued at $9,449,473 over the last three months. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Zacks Research downgraded shares of VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. JPMorgan Chase & Co. lifted their price target on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Robert W. Baird set a $325.00 price objective on VeriSign in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $282.00.

VeriSign Stock Performance

VRSN opened at $244.23 on Monday. VeriSign, Inc. has a one year low of $211.79 and a one year high of $310.60. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 28.47 and a beta of 0.75. The stock’s 50 day moving average price is $247.26 and its 200-day moving average price is $260.87.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.