Hutchinson Capital Management CA Trims Position in VeriSign, Inc. (NASDAQ:VRSN)

Hutchinson Capital Management CA lessened its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,106 shares of the information services provider’s stock after selling 1,889 shares during the period. VeriSign accounts for approximately 3.0% of Hutchinson Capital Management CA’s portfolio, making the stock its 11th biggest position. Hutchinson Capital Management CA owned about 0.08% of VeriSign worth $15,958,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB raised its holdings in VeriSign by 544.1% in the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock valued at $81,003,000 after buying an additional 330,561 shares during the period. Birch Capital Management LLC raised its holdings in 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 valued at $848,000 after buying an additional 3,996 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in VeriSign by 322.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider’s stock valued at $53,639,000 after buying an additional 199,583 shares during the period. Truist Financial Corp raised its holdings in VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider’s stock valued at $4,235,000 after buying an additional 2,218 shares during the period. Finally, MML Investors Services LLC raised its holdings in VeriSign by 602.6% in the 3rd quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider’s stock valued at $2,225,000 after buying an additional 10,045 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Price Performance

NASDAQ VRSN opened at $238.35 on Friday. The company has a market cap of $22.55 billion, a P/E ratio of 29.79 and a beta of 0.87. The stock has a 50-day moving average of $223.32 and a two-hundred day moving average of $200.20. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $242.23.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VRSN shares. Citigroup boosted their price objective 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 upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $200.00 to $250.00 in a research report on Monday, December 9th.

Insider Transactions at VeriSign

In other news, SVP John Calys sold 447 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the transaction, the senior vice president now directly owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

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.