Bryce Point Capital LLC Purchases New Position in VeriSign, Inc. (NASDAQ:VRSN)

Bryce Point Capital LLC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,156 shares of the information services provider’s stock, valued at approximately $860,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nordea Investment Management AB raised its holdings in shares of VeriSign by 544.1% during the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock valued at $81,003,000 after acquiring an additional 330,561 shares in the last quarter. Birch Capital Management LLC increased its position in VeriSign by 3,996.0% during the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider’s stock valued at $848,000 after purchasing 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 worth $53,639,000 after purchasing an additional 199,583 shares in the last quarter. Truist Financial Corp lifted its position in shares of VeriSign by 12.2% in the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider’s stock worth $4,235,000 after purchasing an additional 2,218 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of VeriSign by 602.6% during 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 purchasing an additional 10,045 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Transactions at VeriSign

In other news, SVP John Calys sold 447 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

VRSN has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of VeriSign from $255.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup increased their target price on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research note on Friday, March 21st.

VeriSign Price Performance

NASDAQ:VRSN opened at $255.50 on Thursday. The firm has a market capitalization of $24.17 billion, a P/E ratio of 31.94 and a beta of 0.87. VeriSign, Inc. has a one year low of $167.05 and a one year high of $257.70. The company’s 50-day simple moving average is $233.13 and its 200 day simple moving average is $206.09.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results 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%.

About VeriSign

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.