Warren Buffett Doubles Down on VeriSign

Berkshire Hathaway has significantly increased its stake in VeriSign, doubling down on the company’s growth potential in the domain registration sector.

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Warren Buffett’s investment firm disclosed its latest moves in a Form 4 filing with the U.S. Securities and Exchange Commission (SEC) on Thursday evening. The filing revealed that Berkshire Hathaway spent $28.55 million to acquire 143,424 shares of VeriSign Inc. over three trading sessions ending December 24.

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In total, over six trading sessions through December 24, Berkshire purchased 377,736 VeriSign shares for $73.95 million, at an average weighted price of $195.78 per share.

These acquisitions bring Berkshire’s total holding in VeriSign to 13,193,349 shares, representing 13.7% of the company’s outstanding shares. At Thursday’s closing price, this stake is valued at approximately $2.67 billion.

Berkshire’s 13F filings reveal that it first began investing in VeriSign during Q1 2024, holding 12,815,613 shares as of March 31. The position remained unchanged until these recent purchases.

VeriSign shares rose 0.5% in premarket trading on Friday, reaching an 11-month high. The stock is now on track for its sixth consecutive gain, marking its longest winning streak since August.

VeriSign gained prominence during the late 1990s internet boom as a leading provider of domain name registrations. The company manages domains ending in .com, .net, .cc, and .name.

VeriSign went public on January 30, 1998, closing its first trading day at $6.38 (adjusted for splits). The stock surged 131.7% by the end of that year and skyrocketed 1,191.8% in 1999. It reached an all-time high of $253 on February 29, 2000, before the dot-com bubble burst. The stock surpassed that peak in 2021, achieving a record close of $255.93 on December 29, 2021.

As of Friday, VeriSign shares were trading 20.8% below their record high and are down 1.6% year-to-date.

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ABOUT THE AUTHOR See More
Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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