Allianz Asset Management GmbH Purchases 36,829 Shares of VeriSign, Inc. $VRSN

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

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

VeriSign Stock Performance

VeriSign stock opened at $243.57 on Wednesday. The business’s fifty day moving average is $247.05 and its two-hundred day moving average is $260.38. The firm has a market cap of $22.58 billion, a P/E ratio of 28.39 and a beta of 0.75. VeriSign, Inc. has a 52 week low of $216.43 and a 52 week high of $310.60.

Wall Street Analyst Weigh In

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

Insider Activity

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were 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 approximately $112,516,353.46. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 37,999 shares of company stock valued at $9,367,804 over the last three months. Insiders own 0.84% of the company’s stock.

VeriSign Company 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.