VeriSign, Inc. (NASDAQ:VRSN) Shares Purchased by KBC Group NV

KBC Group NV boosted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 206.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,527 shares of the information services provider’s stock after acquiring an additional 36,032 shares during the quarter. KBC Group NV’s holdings in VeriSign were worth $11,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Concord Wealth Partners increased its position in shares of VeriSign by 93.2% during the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after purchasing an additional 109 shares during the last quarter. Tobam increased 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 valued at $59,000 after acquiring an additional 118 shares during the last quarter. Blue Trust Inc. increased 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 valued at $75,000 after acquiring an additional 244 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of VeriSign in the 3rd quarter worth approximately $76,000. Finally, True Wealth Design LLC boosted its position in shares of VeriSign by 16,966.7% during the 3rd quarter. True Wealth Design LLC now owns 512 shares of the information services provider’s stock worth $97,000 after purchasing an additional 509 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Trading Up 0.3 %

Shares of NASDAQ VRSN opened at $213.78 on Thursday. VeriSign, Inc. has a 12-month low of $167.04 and a 12-month high of $216.83. The stock has a market cap of $20.54 billion, a P/E ratio of 24.86 and a beta of 0.89. The business’s fifty day simple moving average is $200.26 and its 200-day simple moving average is $188.58.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup boosted their target price on VeriSign from $210.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. 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. Finally, Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

Insider Activity

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of VeriSign stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

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.