VeriSign, Inc. (NASDAQ:VRSN) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,216 shares of the information services provider’s stock after selling 775 shares during the quarter. Pallas Capital Advisors LLC’s holdings in VeriSign were worth $1,080,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sivia Capital Partners LLC raised its position in shares of VeriSign by 6.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,457 shares of the information services provider’s stock valued at $302,000 after acquiring an additional 94 shares in the last quarter. Czech National Bank increased its stake in VeriSign by 4.8% during the fourth quarter. Czech National Bank now owns 17,920 shares of the information services provider’s stock valued at $3,709,000 after purchasing an additional 822 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of VeriSign by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,222 shares of the information services provider’s stock worth $4,601,000 after purchasing an additional 172 shares during the period. Birch Capital Management LLC lifted its position in shares of VeriSign by 3,996.0% in the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider’s stock worth $848,000 after buying an additional 3,996 shares during the last quarter. Finally, Pensionfund Sabic bought a new stake in shares of VeriSign during the 4th quarter valued at about $1,345,000. Institutional investors own 92.90% of the company’s stock.

Insider Activity at VeriSign

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the sale, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

VeriSign Trading Up 1.2 %

Shares of NASDAQ VRSN opened at $209.56 on Tuesday. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $213.68. The company has a market cap of $20.14 billion, a PE ratio of 24.37 and a beta of 0.89. The stock has a 50 day simple moving average of $194.30 and a 200-day simple moving average of $185.94.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $390.19 million. During the same quarter in the previous year, the firm posted $1.83 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis.

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.