VeriSign (NASDAQ:VRSN) Given New $250.00 Price Target at Citigroup

VeriSign (NASDAQ:VRSN) had its price target boosted by Citigroup from $246.00 to $250.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other analysts also recently issued reports on VRSN. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Robert W. Baird raised VeriSign from a “neutral” rating to an “outperform” rating and raised their price target for the company from $200.00 to $250.00 in a research report on Monday, December 9th. Finally, Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

VeriSign Stock Performance

VRSN opened at $218.50 on Tuesday. The company has a market cap of $21.00 billion, a PE ratio of 25.41 and a beta of 0.90. The stock has a 50-day moving average of $202.86 and a 200-day moving average of $189.61. VeriSign has a 52-week low of $167.04 and a 52-week high of $219.57.

Insider Transactions at VeriSign

In other 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 sale, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of VeriSign during the 4th quarter worth about $141,129,000. Nordea Investment Management AB lifted its stake in VeriSign by 544.1% during the fourth quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider’s stock worth $81,003,000 after purchasing an additional 330,561 shares during the period. Canoe Financial LP acquired a new stake in VeriSign during the third quarter valued at approximately $46,455,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 purchasing an additional 199,583 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of VeriSign in the 3rd quarter worth approximately $35,665,000. 92.90% of the stock is owned by institutional investors.

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.