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

Omaha, N.Y.— Berkshire Hathaway Inc . (NYSE: ), led by Warren E. Buffett, increased its stake in the stock. Verisign Inc . (NASDAQ: ) with a series of acquisitions totaling $4.1 million. The transactions, disclosed in a recent SEC filing, took place over several days and fetched between $204.61 and $204.94 per share. Currently, the $19.7 billion Internet infrastructure company is trading at a 52-week high of $210.22, and accordingly appears to be slightly undervalued. Invest Pro Analysis.

The 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 a modest P/E of 23.9x.

Following these transactions, Berkshire Hathaway now owns a total of 13,289,880 shares of Verisign, indicating its continued confidence in the company. Warren Buffett, as Berkshire’s controlling shareholder, may be deemed to own these shares. But it forbids beneficial ownership except to the extent of the pecuniary interest. Invest Pro The data shows the company has a “good” financial health score, with 12 additional key insights available to subscribers via the Pro Research report.

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

In a separate development, VeriSign stock was upgraded from Neutral to Outperform by Baird, citing improved transparency on pricing and a positive free cash flow outlook. Citi reaffirmed a buy rating and set a price target of $210.00 on VeriSign. The positive outlook for both companies follows VeriSign’s recent renewal of a cooperative agreement with the National Telecommunications and Information Administration (NTA).

VeriSign also announced the .com Registration Agreement with the Internet Corporation for Assigned Names and Numbers (ICANN), which introduces provisions to improve the security and stability of the .com TLD. He announced the renewal. The agreement maintains the current pricing structure for .com domain names.

Finally, VeriSign reported modest revenue growth of 3.8% to $391 million in its third quarter 2024 results. This was accompanied by a 13.1 percent increase in earnings per share, which rose to $2.07. For the full year 2024, the company expects revenue to be between $1.554 billion and $1.559 billion, while operating income is expected to be between $1.054 billion and $1.059 billion.

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