Norges Bank Buys Shares of 1,036,620 VeriSign, Inc. (NASDAQ:VRSN)


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Norges Bank bought a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,036,620 shares of the information services provider’s stock, valued at approximately $224,325,000. Norges Bank owned about 0.92% of VeriSign at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of VeriSign by 47.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,552 shares of the information services provider’s stock worth $336,000 after buying an additional 500 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of VeriSign by 3.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 511,798 shares of the information services provider’s stock worth $110,753,000 after buying an additional 18,690 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of VeriSign by 79.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,968 shares of the information services provider’s stock worth $426,000 after buying an additional 870 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of VeriSign by 19.0% in the 4th quarter. Hsbc Holdings PLC now owns 98,309 shares of the information services provider’s stock worth $21,138,000 after buying an additional 15,668 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of VeriSign by 2.3% in the 4th quarter. Schroder Investment Management Group now owns 342,114 shares of the information services provider’s stock worth $74,033,000 after buying an additional 7,651 shares during the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.

NASDAQ VRSN opened at $204.37 on Thursday. The company has a market capitalization of $23.11 billion, a PE ratio of 30.32 and a beta of 0.87. The business’s fifty day moving average is $195.08 and its 200 day moving average is $201.17. VeriSign, Inc. has a fifty-two week low of $184.60 and a fifty-two week high of $221.30.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, February 11th. The information services provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.09. The company had revenue of $320.28 million for the quarter, compared to the consensus estimate of $320.29 million. VeriSign had a negative return on equity of 54.86% and a net margin of 63.32%. Sell-side analysts anticipate that VeriSign, Inc. will post 5.26 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on VRSN. Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating and set a $213.00 price target on the stock. in a research note on Monday, February 15th. JPMorgan Chase & Co. upgraded VeriSign from a “neutral” rating to an “overweight” rating and set a $246.00 price target on the stock in a research note on Wednesday, December 9th. Finally, TheStreet downgraded VeriSign from a “b-” rating to a “c+” rating in a research report on Tuesday, January 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $229.60.

In other VeriSign news, CEO D James Bidzos sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $200.28, for a total transaction of $1,201,680.00. Following the sale, the chief executive officer now directly owns 832,356 shares of the company’s stock, valued at $166,704,259.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $202.47, for a total value of $124,114.11. Following the sale, the executive vice president now directly owns 54,589 shares in the company, valued at $11,052,634.83. The disclosure for this sale can be found here. Insiders have sold 28,678 shares of company stock worth $5,743,264 over the last quarter. 1.35% of the stock is owned by company insiders.

VeriSign 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. It enables the security, stability, and resiliency of Internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 Internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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