VeriSign, Inc. $VRSN Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC reduced its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,898 shares of the information services provider’s stock after selling 2,174 shares during the period. VeriSign accounts for about 1.0% of Alta Capital Management LLC’s portfolio, making the stock its 28th largest holding. Alta Capital Management LLC owned 0.07% of VeriSign worth $18,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC boosted its stake in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after acquiring an additional 54 shares during the last quarter. Root Financial Partners LLC purchased a new position in VeriSign in the 3rd quarter valued at $29,000. Ameritas Advisory Services LLC acquired a new stake in VeriSign during the 2nd quarter worth $34,000. Bayforest Capital Ltd purchased a new stake in shares of VeriSign during the second quarter worth $34,000. Finally, North Capital Inc. raised its position in shares of VeriSign by 239.0% in the third quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Activity at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was 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 directly owned 414,099 shares in the company, valued at $102,812,499.72. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $248.71, for a total value of $123,857.58. Following the transaction, the executive vice president owned 30,613 shares of the company’s stock, valued at $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. Insiders sold a total of 37,999 shares of company stock valued at $9,367,804 in the last quarter. 0.84% of the stock is owned by insiders.

VeriSign Stock Performance

Shares of VeriSign stock opened at $243.57 on Wednesday. The stock has a 50 day moving average of $247.05 and a 200 day moving average of $260.38. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 28.39 and a beta of 0.75. VeriSign, Inc. has a fifty-two week low of $216.43 and a fifty-two week high of $310.60.

Wall Street Analysts Forecast Growth

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

VeriSign 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.