Warren Buffett’s Berkshire Hathaway Buys Verisign Shares for $4.1 Million By Investing.com

OMAHA, NO— Berkshire Hathaway Inc . (NYSE:), led by Warren E. Buffett, increased its stake in Verisign Inc . (NASDAQ: ) with a series of purchases totaling $4.1 million. The transactions, disclosed in a recent filing with the SEC, took place over several days, and the shares were acquired at prices ranging from $204.61 to $204.94 a piece. The internet infrastructure company, currently valued at $19.7 billion, is trading near its 52-week high of $210.22 and appears slightly undervalued by InvestingPro analysis.

Purchases included 1,621 shares on December 31, 2024 at an average price of $204.83, followed by 5,879 shares on January 2, 2025 at $204.84 per share. On January 3, 2025, Berkshire acquired an additional 11,744 shares at $204.61 and 800 shares at $204.94. Verisign maintains impressive gross profit margins of 87.6% and has a moderate P/E ratio of 23.9x.

Following these transactions, Berkshire Hathaway now holds a total of 13,289,880 shares of Verisign, reflecting its continued confidence in the company. Warren Buffett, as Berkshire’s controlling shareholder, can be considered the beneficial owner of these shares. However, he disclaims beneficial ownership except to the extent of his pecuniary interest. InvestingPro data reveals that the company maintains a “GOOD” financial health rating, with 12 additional key insights available to subscribers through a comprehensive Pro Research Report.

In other recent news, Warren Buffett-led Berkshire Hathaway increased its investments in Occidental Petroleum (NYSE: ), Sirius XM Holdings (NASDAQ: ) and VeriSign. Berkshire Hathaway’s purchase of about 8.9 million shares of Occidental Petroleum for about $409 million, about five million shares of Sirius XM for about $107 million and about 234,000 shares of VeriSign for about $45.4 million fueled positive sentiment among investors.

In a separate development, Baird upgraded VeriSign’s stock from Neutral to Outperform, citing improved price clarity and a positive free cash flow outlook. Citi also reaffirmed a buy rating on VeriSign, setting a $210.00 price target. The positive outlook for both companies follows VeriSign’s recent renewal of its cooperative 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), which introduces provisions to improve the security and stability of the .com top-level domain. The agreement maintains the current pricing structure for .com domain names.

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. For the full year 2024, the company expects revenue between $1.554 billion and $1.559 billion, with projected operating income between $1.054 billion and $1.059 billion.

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