VeriSign Inc. (VRSN), a leading provider of internet infrastructure services, saw its stock soar 5.32% in pre-market trading on Tuesday. The rally was fueled by news that Warren Buffett's Berkshire Hathaway has further increased its stake in the company, signaling continued confidence in VeriSign's long-term prospects.
According to a regulatory filing, Berkshire Hathaway acquired an additional 76,487 shares of VeriSign between December 26 and December 30, 2024, for approximately $15.6 million. This move brings Buffett's total holding in the company to 13,269,836 shares, solidifying Berkshire Hathaway's position as the largest shareholder in VeriSign.
Buffett's investment philosophy centers around value investing and acquiring undervalued companies with favorable long-term prospects. VeriSign, as the sole authorized registry for several top-level domains, including .com and .net, plays a critical role in the internet infrastructure sector. The company's strong financial performance, with robust profitability and growth metrics, has likely contributed to Buffett's decision to increase his stake further.
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