Proficio Capital Partners LLC Takes $11.87 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

Proficio Capital Partners LLC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,328 shares of the information services provider’s stock, valued at approximately $11,865,000. Proficio Capital Partners LLC owned about 0.06% of VeriSign at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VRSN. Whipplewood Advisors LLC bought a new position in VeriSign in the fourth quarter valued at approximately $26,000. Crewe Advisors LLC bought a new position in VeriSign in the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its stake in VeriSign by 127.2% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 103 shares during the last quarter. BankPlus Trust Department bought a new position in VeriSign in the fourth quarter valued at approximately $49,000. Finally, Spire Wealth Management boosted its stake in VeriSign by 69.8% in the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 104 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Stock Up 2.1 %

Shares of NASDAQ VRSN opened at $238.35 on Friday. The company’s fifty day moving average is $223.32 and its 200-day moving average is $200.20. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 29.79 and a beta of 0.87. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $242.23.

VeriSign (NASDAQ:VRSN) last issued 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 net margin of 50.47% and a negative return on equity of 43.01%.

Insider Buying and Selling

In other VeriSign 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 directly owns 23,735 shares in the company, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup lifted their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $250.00 in a research report on Monday, December 9th.

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.