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The purchases were executed in multiple transactions, with the largest single-day acquisition occurring on December 27, when Berkshire Hathaway (NYSE:BRKa) bought 47,751 shares. The investment reflects Berkshire Hathaway's continued interest in Verisign (NASDAQ:VRSN), a leading provider of domain name registry services trading 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 owned indirectly, primarily through various subsidiaries and pension plans under the Berkshire Hathaway umbrella. For detailed analysis and comprehensive research reports on Verisign and 1,400+ other stocks, visit InvestingPro.
The purchases were executed in multiple transactions, with the largest single-day acquisition occurring on December 27, when Berkshire Hathaway bought 47,751 shares. The investment reflects Berkshire Hathaway's continued interest in Verisign, a leading provider of domain name registry services trading 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 owned indirectly, primarily through various subsidiaries and pension plans under the Berkshire Hathaway umbrella. For detailed analysis and comprehensive research reports on Verisign and 1,400+ other stocks, visit InvestingPro.
The purchases were executed in multiple transactions, with the largest single-day acquisition occurring on December 27, when Berkshire Hathaway bought 47,751 shares. The investment reflects Berkshire Hathaway's continued interest in Verisign, a leading provider of domain name registry services.
As a ten percent owner, Warren Buffett, through Berkshire Hathaway, holds a significant stake in Verisign. The shares are owned 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 series of significant developments. Berkshire Hathaway, led by Warren Buffett, invested approximately $45.4 million in VeriSign, acquiring around 234,000 shares, leading to a modest gain in VeriSign's stock. The investment conglomerate's increased stake in VeriSign now amounts to 13 million shares, valued at roughly $2.5 billion, representing more than 13% ownership.
Additionally, Baird upgraded VeriSign's stock from Neutral to Outperform, citing improvements in the company's domain growth strategy and the resolution of previous regulatory concerns. Baird's new price target for VeriSign stands at $250, reflecting a bullish outlook for the stock. Citi also reaffirmed its Buy rating for VeriSign, setting a price target of $210.00 following the renewal of the company's 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). The renewed agreement introduces provisions to enhance the security and stability of the .com Top-Level Domain.
Lastly, VeriSign reported a modest revenue growth of 3.8% in its third-quarter 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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