Elo Mutual Pension Insurance Co Makes New $2.16 Million Investment in VeriSign, Inc. (NASDAQ:VRSN)

Elo Mutual Pension Insurance Co acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,446 shares of the information services provider’s stock, valued at approximately $2,162,000.

A number of other large investors have also recently made changes to their positions in VRSN. Crewe Advisors LLC acquired a new stake in VeriSign during the 4th quarter worth about $26,000. Whipplewood Advisors LLC purchased a new position in shares of VeriSign in the fourth quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in shares of VeriSign by 127.2% during the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after purchasing an additional 103 shares during the period. BankPlus Trust Department purchased a new stake in VeriSign in the fourth quarter valued at approximately $49,000. Finally, Spire Wealth Management increased its holdings in VeriSign by 69.8% in the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after buying an additional 104 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Price Performance

VRSN opened at $250.92 on Friday. The firm has a fifty day moving average price of $230.38 and a 200 day moving average price of $204.56. VeriSign, Inc. has a 1 year low of $167.05 and a 1 year high of $256.35. The stock has a market cap of $23.74 billion, a P/E ratio of 31.37 and a beta of 0.87.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Wall Street Analyst Weigh In

VRSN has been the topic of several recent research reports. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $200.00 to $250.00 in a report on Monday, December 9th. Citigroup upped their price target on shares of VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Friday, March 21st.

Insider Activity at VeriSign

In related news, SVP John Calys sold 447 shares of VeriSign stock in a transaction on Monday, February 24th. The shares were sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% 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. 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.