Growth Stock Portfolio: 5 Stock Picks By Warren Buffett

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In this article, we discuss the top 5 growth stock picks of Warren Buffett. If you want to see more stocks in this selection, check out Growth Stock Portfolio: 10 Stock Picks By Warren Buffett

5. VeriSign, Inc. (NASDAQ:VRSN)

Number of Hedge Fund Holders: 35

P/E Ratio as of November 9: 24.03

VeriSign, Inc. (NASDAQ:VRSN) is a Virginia-based company providing network infrastructure, facilitating internet connections and communications in the United States. Warren Buffett owned 12.8 million shares of VeriSign, Inc. (NASDAQ:VRSN) in the second quarter of 2022, worth $2.14 billion and representing 0.71% of the total 13F portfolio. It is one of the best growth stocks to invest in as per Berkshire Hathaway. 

On October 27, VeriSign, Inc. (NASDAQ:VRSN) reported its Q3 results, posting a GAAP EPS of $1.58 and a revenue of $356.9 million, up 6.8% year-over-year. During the third quarter, VeriSign, Inc. (NASDAQ:VRSN) repurchased 1.5 million units of its common stock for an aggregate price of $275 million.

According to Insider Monkey’s data, 35 hedge funds were long VeriSign, Inc. (NASDAQ:VRSN) at the end of Q2 2022, compared to 41 funds in the prior quarter. Jim Simons’ Renaissance Technologies is a prominent stakeholder of the company, with approximately 4 million shares worth $662 million.  

Here is what Baron Asset Fund has to say about VeriSign, Inc. (NASDAQ:VRSN) in its Q4 2021 investor letter:

“Verisign, Inc. provides internet infrastructure services worldwide and is best known for its exclusive role managing the .com and .net domains, for which it receives annual fees from all those domain owners. Shares of Verisign gained after reporting strong revenue growth and operating margins that exceeded Wall Street forecasts. We continue to be positive on Verisign’s business, based on its strong competitive position, capacity for global growth in domain names, and its ongoing ability to generate substantial free cash flow.”

Follow Verisign Inc (NASDAQ:VRSN)

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