Truist Financial Corp Boosts Stake in VeriSign, Inc. (NASDAQ:VRSN)

Truist Financial Corp lifted its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,374 shares of the information services provider’s stock after buying an additional 590 shares during the period. Truist Financial Corp’s holdings in VeriSign were worth $2,755,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its position in VeriSign by 52.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Baldwin Brothers LLC MA grew its position 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 buying an additional 111 shares during the period. Larson Financial Group LLC increased its holdings in VeriSign by 251.5% during the third quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock worth $72,000 after buying an additional 254 shares during the last quarter. CX Institutional bought a new stake in VeriSign in the fourth quarter worth about $79,000. Finally, GAMMA Investing LLC purchased a new position in VeriSign in the fourth quarter valued at about $97,000. 92.90% of the stock is owned by institutional investors.

VeriSign Price Performance

Shares of VRSN stock opened at $169.56 on Wednesday. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 20.83 and a beta of 0.89. The company’s fifty day simple moving average is $185.97 and its two-hundred day simple moving average is $197.90. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $229.72.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VRSN shares. Robert W. Baird decreased their price target on shares of 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 note on Monday, April 29th. Finally, Citigroup decreased their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total transaction of $119,737.29. Following the sale, the executive vice president now owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total transaction of $119,737.29. Following the completion of the transaction, the executive vice president now directly owns 43,143 shares in the company, valued at $8,427,122.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas C. Indelicarto sold 614 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the sale, the executive vice president now directly owns 41,955 shares in the company, valued at approximately $7,971,450. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,139 shares of company stock worth $2,731,971. 0.84% of the stock is owned by company insiders.

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.