Oakbrook Investments LLC lowered its holdings in shares of Verisign, Inc. (NASDAQ:VRSN) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,203 shares of the information services provider’s stock after selling 2,150 shares during the quarter. Oakbrook Investments LLC’s holdings in Verisign were worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC purchased a new position in Verisign during the 4th quarter valued at about $1,618,000. First Citizens Bank & Trust Co. purchased a new position in Verisign during the 4th quarter worth approximately $1,171,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Verisign during the 4th quarter valued at approximately $1,023,000. DNB Asset Management AS increased its holdings in shares of Verisign by 72.5% during the 4th quarter. DNB Asset Management AS now owns 21,421 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in shares of Verisign by 1.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 144,397 shares of the information services provider’s stock valued at $21,413,000 after purchasing an additional 1,855 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
Shares of NASDAQ:VRSN opened at $170.52 on Friday. Verisign, Inc. has a 1 year low of $105.40 and a 1 year high of $176.76. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 46.34 and a beta of 0.94.
In related news, EVP Thomas C. Indelicarto sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $150.81, for a total value of $497,673.00. Following the completion of the transaction, the executive vice president now directly owns 55,871 shares of the company’s stock, valued at $8,425,905.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen A. Cote sold 2,384 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the sale, the director now directly owns 37,594 shares of the company’s stock, valued at $6,033,837. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by corporate insiders.
Several brokerages recently commented on VRSN. JPMorgan Chase & Co. raised shares of Verisign from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $125.00 to $160.00 in a report on Friday, November 2nd. Citigroup lifted their target price on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. BidaskClub cut shares of Verisign from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Monday, December 31st. Finally, Robert W. Baird raised shares of Verisign from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $170.00 in a research report on Friday, November 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $160.80.
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VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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