VeriSign shares fell on Tuesday after Warren Buffett's Berkshire Hathaway sold nearly one-third of its stake in the internet infrastructure and domain name registry company for $1.23 billion.

Berkshire Hathaway ( NYSE: BRK.A) ( NYSE: BRK.B) sold about one-third of its stake in VeriSign ( NASDAQ: VRSN )—an internet infrastructure and domain name registry services company—disposing of 4.3 million shares at $285, raising ~$1.23 billion in gross proceeds.

VeriSign Inc. shares drop as Berkshire Hathaway sells chunk of holdings. Sale aims to reduce ownership below 10% regulatory threshold.