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VeriSign (VRSN) stock continues ticking in the green, recently notching up a 52-week high after Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway (BRK.A, BRK.B) revealed an investment of roughly $90 million in recent insider transactions. The internet services and infrastructure company's stock jumped 2% in premarket trading on Tuesday, having gained a stellar 18% in the past six months. Moreover, over a six-month period, the stock has beaten the S&P 500's 8.5% gain.
A December 26 filing with the U.S. Securities and Exchange Commission revealed Berkshire Hathaway's buying approximately 143,424 VeriSign shares with prices ranging $194.98 and $201.67. Additional filings showed further purchases, including 76,487 shares bought on December 30 at prices ranging from $201.12 to $206.11, and 234,312 shares picked up on December 17 at prices between $193.88 and $196.23.The ongoing investment highlights Berkshire's faith in VeriSign's business, fueling the stock's recent momentum and marking its highest trading levels in a year.
This article first appeared on GuruFocus.