VeriSign, Inc. $VRSN Position Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in VeriSign, Inc. (NASDAQ:VRSN) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,719 shares of the information services provider’s stock after purchasing an additional 2,435 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in VeriSign were worth $7,749,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VRSN. Salomon & Ludwin LLC grew its stake in 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 purchasing an additional 54 shares in the last quarter. Root Financial Partners LLC bought a new position in VeriSign during the 3rd quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new position in shares of VeriSign in the 2nd quarter worth approximately $34,000. Bayforest Capital Ltd bought a new stake in shares of VeriSign in the 2nd quarter valued at approximately $34,000. Finally, North Capital Inc. raised its position in shares of VeriSign by 239.0% during the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Up 0.0%

VeriSign stock opened at $244.23 on Friday. VeriSign, Inc. has a 52-week low of $211.79 and a 52-week high of $310.60. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 28.47 and a beta of 0.77. The firm has a 50-day moving average price of $247.26 and a two-hundred day moving average price of $261.03.

Insider Activity

In related news, CEO D James Bidzos sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $248.14, for a total value of $1,240,700.00. Following the completion of the transaction, the chief executive officer directly owned 453,439 shares of the company’s stock, valued at $112,516,353.46. This represents a 1.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 38,333 shares of company stock worth $9,449,473 in the last three months. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.