Warren Buffett’s Berkshire Hathaway recently purchased 76,487 shares of Verisign for $15.6 million, raising its ownership to 13.8% amid the stock’s seven-year low. Verisign, a provider of dotcom domain registry services, has faced regulatory scrutiny over pricing but recently renewed its contract with the Biden administration. This has led to more optimistic views from analysts, with Baird upgrading its rating on the stock—projecting a 21% rise to $250 within the next year. Verisign fits into Berkshire’s value investment strategy, focusing on metrics like cash flow and price-to-earnings ratios, as it trades at approximately 24 times forward earnings.
