VeriSign, Inc. $VRSN Position Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,611 shares of the information services provider’s stock after purchasing an additional 36,829 shares during the period. Allianz Asset Management GmbH owned about 0.39% of VeriSign worth $99,977,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. lifted its position in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after buying an additional 40 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in VeriSign by 12.3% during the first quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock valued at $313,000 after purchasing an additional 135 shares during the last quarter. NewEdge Advisors LLC increased its position in VeriSign by 104.5% in the 1st quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock worth $1,047,000 after purchasing an additional 2,108 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of VeriSign by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock worth $852,000 after purchasing an additional 1,846 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of VeriSign by 2.0% during the 1st quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock valued at $2,373,000 after buying an additional 186 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Down 3.0%

Shares of VRSN stock opened at $243.57 on Wednesday. VeriSign, Inc. has a 12 month low of $216.43 and a 12 month high of $310.60. The firm has a market cap of $22.58 billion, a PE ratio of 28.39 and a beta of 0.75. The stock has a 50 day moving average of $247.05 and a 200-day moving average of $260.38.

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 transaction of $496,560.00. Following the completion of the transaction, the chief executive officer owned 414,099 shares of the company’s stock, valued at approximately $102,812,499.72. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of VeriSign stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $248.71, for a total value of $123,857.58. Following the sale, the executive vice president directly owned 30,613 shares in the company, valued at approximately $7,613,759.23. This trade represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 37,999 shares of company stock valued at $9,367,804. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird set a $325.00 price objective on VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Finally, Zacks Research lowered VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $298.00.

About VeriSign

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.