Ninety One North America Inc. Has $46.38 Million Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Ninety One North America Inc. decreased its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,106 shares of the information services provider’s stock after selling 9,213 shares during the quarter. VeriSign accounts for approximately 2.9% of Ninety One North America Inc.’s investment portfolio, making the stock its 11th largest position. Ninety One North America Inc. owned 0.23% of VeriSign worth $46,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concord Wealth Partners boosted its holdings in 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 acquiring an additional 109 shares during the last quarter. Spire Wealth Management raised its position in shares of VeriSign by 69.8% during the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after purchasing an additional 104 shares during the period. Tobam raised its position in shares of VeriSign by 61.1% during the third quarter. Tobam now owns 311 shares of the information services provider’s stock worth $59,000 after purchasing an additional 118 shares during the period. Blue Trust Inc. raised its position in shares of VeriSign by 138.6% during the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock worth $75,000 after purchasing an additional 244 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in VeriSign in the 3rd quarter valued at $76,000. 92.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares of the company’s stock, valued at $5,033,391.51. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

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

VeriSign Stock Up 0.7 %

NASDAQ:VRSN opened at $217.49 on Tuesday. The business’s 50-day moving average price is $202.17 and its two-hundred day moving average price is $189.34. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $219.57. The stock has a market cap of $20.90 billion, a P/E ratio of 25.31 and a beta of 0.90.

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. 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.