Entropy Technologies LP Sells 2,806 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Entropy Technologies LP reduced its position in VeriSign, Inc. (NASDAQ:VRSN) by 45.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,421 shares of the information services provider’s stock after selling 2,806 shares during the quarter. Entropy Technologies LP’s holdings in VeriSign were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at $26,000. Concord Wealth Partners raised its holdings in VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 109 shares during the period. Spire Wealth Management lifted its position in shares of 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 in the last quarter. Intact Investment Management Inc. bought a new position in shares of VeriSign in the third quarter worth about $76,000. Finally, Blue Trust Inc. grew 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 worth $75,000 after purchasing an additional 244 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRSN has been the topic of a number of research analyst reports. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Citigroup boosted their target price on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

VeriSign Price Performance

NASDAQ:VRSN opened at $227.38 on Wednesday. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 28.42 and a beta of 0.90. VeriSign, Inc. has a 1 year low of $167.04 and a 1 year high of $227.50. The stock’s 50 day simple moving average is $205.96 and its two-hundred day simple moving average is $191.16.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, hitting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 44.06%.

Insider Activity

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the business’s 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 sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 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.