2,635 Shares in VeriSign, Inc. $VRSN Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,635 shares of the information services provider’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its holdings in shares of VeriSign by 112.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after buying an additional 54 shares during the period. Root Financial Partners LLC acquired a new stake in VeriSign in the third quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its position in VeriSign by 429.2% in the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 103 shares in the last quarter. North Capital Inc. raised its stake in shares of VeriSign by 239.0% during the third quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its position in shares of VeriSign by 51.5% during the third quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Trading Up 4.4%

Shares of NASDAQ:VRSN opened at $251.70 on Thursday. The firm has a market cap of $23.08 billion, a PE ratio of 28.57 and a beta of 0.76. The company has a fifty day simple moving average of $235.60 and a 200 day simple moving average of $249.33. VeriSign, Inc. has a 12-month low of $208.86 and a 12-month high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). The company had revenue of $425.30 million for the quarter, compared to the consensus estimate of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 earnings per share.

VeriSign Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 19th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, February 19th. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 annualized dividend and a dividend yield of 1.3%. VeriSign’s dividend payout ratio is 36.78%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRSN. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their price target on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Citigroup cut their price objective on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, VeriSign currently has an average rating of “Hold” and a consensus target price of $292.00.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 498 shares of VeriSign stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $231.78, for a total value of $115,426.44. Following the completion of the transaction, the executive vice president directly owned 40,028 shares in the company, valued at approximately $9,277,689.84. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $248.20, for a total value of $1,241,000.00. Following the completion of the sale, the chief executive officer directly owned 416,099 shares of the company’s stock, valued at approximately $103,275,771.80. This represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,490 shares of company stock worth $2,338,621 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

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.