508 Shares in VeriSign, Inc. (NASDAQ:VRSN) Bought by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 508 shares of the information services provider’s stock, valued at approximately $105,000.

A number of other hedge funds have also recently made changes to their positions in VRSN. Concord Wealth Partners increased its stake in shares of VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after buying an additional 109 shares during the period. Tobam grew its holdings in VeriSign by 61.1% during the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock worth $59,000 after acquiring an additional 118 shares during the last quarter. Intact Investment Management Inc. acquired a new position in VeriSign in the 3rd quarter valued at approximately $76,000. Blue Trust Inc. increased its position in VeriSign by 138.6% in the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after acquiring an additional 244 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of VeriSign by 16,966.7% during the third quarter. True Wealth Design LLC now owns 512 shares of the information services provider’s stock valued at $97,000 after acquiring an additional 509 shares during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now owns 26,157 shares in the company, valued at $5,033,391.51. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Stock Up 2.0 %

VRSN stock opened at $210.73 on Monday. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 24.50 and a beta of 0.89. The company’s fifty day simple moving average is $198.89 and its 200 day simple moving average is $187.97. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $213.68.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The company had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. During the same period in the previous year, the business earned $1.83 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRSN. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $250.00 in a report on Monday, December 9th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup lifted their price objective on VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, StockNews.com upgraded VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th.

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.