VeriSign Inc. (NASDAQ:VRSN) shares fell as Berkshire Hathaway Inc. affiliates plan to sell 4.3 million shares at $285/share, totaling $1.22 billion. The move aims to reduce Berkshire’s ownership below 10%, avoiding additional obligations. VeriSign posted Q2 earnings of $2.21 per share, exceeding forecasts, but revenue of $409.9 million slightly missed expectations.

VeriSign will not receive proceeds from the sale, and Berkshire has a 365-day lock-up on the remaining stake post-offering closure on July 30. The company raised its full-year revenue forecast to $1.645 billion – $1.655 billion. VeriSign operates vital internet infrastructure, including .com and .net domain registries.

VRSN has a 52-week high of $308.00 and a low of $172.49, currently trading 8.2% above its 50-day moving average. Despite the recent dip, VRSN remains on a modest uptrend. Pre-market, VRSN shares are down 6.20% to $287. Related ETFs include FDN and BUG.

Read more at Yahoo Finance: VeriSign Stock Falls After Berkshire Hathaway Cuts Holdings