5 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies

2. VeriSign, Inc. (NASDAQ:VRSN)

Simons’ Stake Value: $1.1 billion

Percentage of Jim Simons’ 13F Portfolio: 1.37%

Number of Hedge Fund Holders: 41

VeriSign, Inc. (NASDAQ:VRSN) is a Virginia-based internet company that operates a diverse network infrastructure, and provides authentication and verification of businesses throughout the world. Ranked second on the list of the 10 best stocks to buy according to Jim Simons’ Renaissance Technologies, VeriSign, Inc. (NASDAQ:VRSN) has a market capitalization of $23.93 billion.

According to the recent 13F Filings, Jim Simons’ Renaissance Technologies holds more than 4.8 million shares of VeriSign, Inc. (NASDAQ:VRSN), amounting to $1.1 billion in worth and representing 1.37% of the fund’s portfolio. By the end of the second quarter of 2021, 41 hedge funds out of the 873 tracked by Insider Monkey held stakes in VeriSign, Inc. (NASDAQ:VRSN), worth $6.1 billion. This is compared to 42 hedge funds in the previous quarter with a total stake value of approximately $5.63 billion.

On July 22, VeriSign, Inc. (NASDAQ:VRSN) issued its earnings report for the second quarter of 2021. It posted earnings per share of $1.31, missing the estimates by $0.02. However, the reported revenue over the period was $329.4 million, beating the market expectations by $0.53 million.

On April 23, Citi analyst Nicholas Jones raised the firm’s price target on VeriSign, Inc. (NASDAQ:VRSN) to $245 from $235 and kept a Neutral rating on the shares.

Out of the hedge funds being tracked by Insider Monkey’s database, Warren Buffett’s Berkshire Hathaway is a leading shareholder in VeriSign, Inc. (NASDAQ:VRSN) with over 12.8 million shares worth more than $2.9 billion.