VeriSign (VRSN) shares jumped 5.03% in pre-market trading on Monday, following news that Warren Buffett's Berkshire Hathaway has been steadily increasing its stake in the internet domain services provider.
Berkshire Hathaway disclosed in a recent SEC filing that it acquired an additional 143,424 VRSN shares in the trading sessions ending December 24th. This brings Berkshire's total stake in VeriSign to 13.2 million shares worth around $2.7 billion, making it the company's largest shareholder.
Analysts view VeriSign as an attractive investment given its high profit margins, ranking among the top companies in the S&P 500. With a profit margin of 56%, VeriSign ties for 5th highest in the index. Its operating margin ranks 3rd highest as well.
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