The purchases were made in multiple transactions, with the largest one-day acquisition occurring on Dec. 27, when Berkshire Hathaway (NYSE: ) bought 47,751 shares. The investment reflects Berkshire Hathaway’s ongoing interest in Verisign (NASDAQ: ), a leading provider of domain name registry services that trades at a P/E ratio of 23.9. As a ten percent owner, Warren Buffett, through Berkshire Hathaway, holds a significant stake in Verisign. The shares are held indirectly, primarily through various subsidiaries and pension plans under the Berkshire Hathaway umbrella. For in-depth analysis and comprehensive research reports on Verisign and over 1,400 other stocks, visit InvestingPro.
The purchases were made in multiple transactions, with the largest one-day acquisition occurring on December 27, when Berkshire Hathaway bought 47,751 shares. The investment reflects Berkshire Hathaway’s ongoing interest in Verisign, a leading provider of domain name registry services that trades at a P/E ratio of 23.9. As a ten percent owner, Warren Buffett, through Berkshire Hathaway, holds a significant stake in Verisign. The shares are held indirectly, primarily through various subsidiaries and pension plans under the Berkshire Hathaway umbrella. For in-depth analysis and comprehensive research reports on Verisign and over 1,400 other stocks, visit InvestingPro.
The purchases were made in multiple transactions, with the largest one-day acquisition occurring on December 27, when Berkshire Hathaway bought 47,751 shares. The investment reflects Berkshire Hathaway’s ongoing interest in Verisign, a leading provider of domain name registry services.
As a ten percent owner, Warren Buffett holds a significant stake in Verisign through Berkshire Hathaway. The shares are held indirectly, primarily through various subsidiaries and pension plans under the Berkshire Hathaway umbrella.
In other recent news, VeriSign, a global provider of domain name registry services, has seen a number of significant developments. Berkshire Hathaway, headed by Warren Buffett, invested approximately $45.4 million in VeriSign, acquiring about 234,000 shares, which led to a modest increase in VeriSign’s stock. The investment conglomerate’s increased stake in VeriSign now stands at 13 million shares, valued at approximately $2.5 billion, representing more than 13% ownership.
In addition, Baird upgraded VeriSign’s stock from Neutral to Outperform, citing improvements in the company’s domain growth strategy and resolution of previous regulatory issues. Baird’s new price target for VeriSign is $250, reflecting an optimistic outlook for the stock. Citi also reaffirmed its buy rating on VeriSign, setting a $210.00 price target following the renewal of the company’s cooperation agreement with the National Telecommunications and Information Administration (NTIA).
VeriSign also announced the renewal of its .com Registry agreement with the Internet Corporation for Assigned Names and Numbers (ICANN). The renewed agreement introduces provisions to improve the security and stability of the .com TLD.
Finally, VeriSign reported modest revenue growth of 3.8% in its Q3 2024 results, reaching $391 million. This was accompanied by a 13.1% increase in earnings per share, which rose to $2.07. The company also maintained a stable liquidity position with $645 million in cash and repurchased 1.7 million shares for $301 million during the quarter.
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