Exploring Verb Technology Company, Inc. (VERB) Investor Profile: Who’s Buying and Why?

You've seen the incredible stock movement-a 48.11% price increase from late 2024 to August 2025-and you're asking the right question: who is actually buying Verb Technology Company, Inc. (VERB) and why are they jumping in now, especially with the strategic pivot? The short answer is that the investor profile has changed from a small-cap software-as-a-service (SaaS) play to a crypto-adjacent treasury strategy, attracting serious institutional capital. Major firms like Vanguard Group Inc and BlackRock, Inc. are among the holders, but the real action was the August 2025 private placement (PIPE) that injected a massive $558 million from over 110 institutional and crypto-native investors, a move that is defintely not typical for a company with a trailing twelve-month (TTM) revenue of just $4.27 million as of November 2025. This capital is earmarked to acquire Toncoin ($TON), making the newly rebranded entity one of the largest global holders, representing about 5% of $TON's circulating supply. The market clearly sees the opportunity, with analysts giving the stock a 'Strong Buy' consensus and an average price target of $62.00. So, are these buyers chasing a high-growth tech platform, or are they betting on a new, crypto-centric treasury model?

Who Invests in Verb Technology Company, Inc. (VERB) and Why?

You're looking at Verb Technology Company, Inc. (VERB) and trying to figure out who is actually buying this stock, and honestly, the investor profile is a fascinating mix of strategic institutional money and a large, volatile retail base. The key takeaway is that the August 2025 $558 million Private Investment in Public Equity (PIPE) deal completely reshaped the shareholder base, pivoting the company toward a new crypto-treasury strategy that is attracting a different kind of institutional buyer.

Key Investor Types: A Skewed Ownership Breakdown

The ownership structure for Verb Technology Company, Inc. is highly skewed, which is typical for a company undergoing a major strategic shift and capital raise. Unlike large-cap stocks where institutional ownership dominates, VERB's float is primarily held by insiders and retail investors, plus the new strategic institutional money from the PIPE.

Here's the quick math based on the latest filings, which show 60,538,922 shares outstanding as of August 2025:

• Insider Ownership: This is a substantial block, sitting at approximately 23.11% of the stock. This high figure, which includes management and directors, signals a strong belief in the new direction, which is defintely a good sign.
• Institutional Investors: Traditional institutional ownership is relatively low, with only 18 institutions holding a total of about 861,005 shares, representing about 1.45% of the shares outstanding (excluding 13D/G filings). However, the August 2025 PIPE sale of 57.4 million shares to institutional investors, including Kingsway Capital, dramatically changed the landscape.
• Retail Investors: By inference, the vast majority of the remaining float is held by retail investors. This segment is highly active in the stock, contributing to its volatility.

Investment Motivations: Betting on the Pivot

The motivations driving investment in Verb Technology Company, Inc. have fundamentally changed in 2025. Investors are no longer just buying a social commerce platform; they are buying a company with a new, aggressive capital allocation strategy.

The new institutional money is attracted by two main factors:

• The TON-Treasury Strategy: The August 2025 PIPE deal, which raised $558 million in gross proceeds, explicitly stated that net proceeds would be deployed primarily to purchase Toncoin, signaling a pivot to a crypto-treasury strategy. Investors like Kingsway Capital, who invested about $118 million in the PIPE, are betting on the appreciation of this digital asset and the new management team's ability to execute this strategy.
• Growth Prospects in Social Commerce: For the traditional institutional holders like Vanguard Group Inc and BlackRock, Inc. (often holding through index funds), the investment is tied to the company's significant, albeit small, revenue growth. Q2 2025 revenue was $2.12 million, a massive increase from the $0.037 million reported in Q2 2024, driven by the MARKET.live platform. This shows the underlying business is starting to gain traction, even as the company reported a Q2 2025 net loss of $2.38 million.

Retail investors, on the other hand, are often drawn to the high volatility and the narrative of a small-cap tech company making a bold, potentially high-reward move into the crypto space. They are looking for explosive growth, not dividends, as the company does not pay one.

Investment Strategies: Long-Term Strategic vs. Short-Term Speculation

The strategies at play are a clear split between long-term strategic investors and the more active trading community.

Strategic Long-Term Holding:

The new, large institutional investors, such as Kingsway Capital, are essentially making a long-term capital allocation bet. Their strategy is a form of activist or strategic value investing, where they invest a large sum-Kingsway's investment was a significant part of the PIPE-and take an active role in governance, with the new Executive Chair coming from Kingsway. They are long-term holders tied to the success of the new strategy, which you can read more about here: Verb Technology Company, Inc. (VERB): History, Ownership, Mission, How It Works & Makes Money.

Short-Term Trading and Speculation:

The large retail base and some smaller funds engage in short-term trading, often driven by news of the strategic pivot or the stock's high volatility. The stock's price of $14.50 as of November 21, 2025, reflects significant movement. Short interest remains low, at about 0.54% of the public float in August 2025, suggesting that while speculation is high, there isn't widespread negative sentiment from sophisticated short-sellers.

The table below summarizes the core strategies of the major institutional players, which are mostly passive index or long-only funds, alongside the new strategic money.

What this estimate hides is the true size of the retail trading volume, which often dwarfs the institutional trading volume in stocks like this. The key action for you is to monitor the execution of the crypto-treasury strategy, as that is the primary driver for the new, large capital inflows.

Institutional Ownership and Major Shareholders of Verb Technology Company, Inc. (VERB)

You need to understand who is really buying Verb Technology Company, Inc. (VERB) and, more importantly, why the investor profile has fundamentally shifted in 2025. The quick answer is that traditional institutional money, alongside major crypto-native funds, has bought into a complete strategic pivot, injecting hundreds of millions to transform VERB from a social commerce software company into a digital asset treasury reserve.

The institutional landscape for VERB is a tale of two eras, but the new one is what matters now. Prior to the major strategic shift in mid-2025, institutional ownership was relatively small, representing about 7.24% of the stock. This low float and small percentage meant the stock was often volatile and highly sensitive to retail trading. Traditional names like Vanguard Group Inc, BlackRock, Inc., and Geode Capital Management, Llc were among the largest holders, primarily through index or small-cap funds, holding a total institutional value of approximately $5,957 thousand (or $5.957 million) in long positions as of the most recent filings.

Here's the quick math on the pre-pivot institutional position:

• Total Institutional Shares (Long): 861,005 shares
• Percentage of Shares Outstanding: 1.45% (excluding 13D/G filings)
• Largest Traditional Holders: Vanguard Group Inc, BlackRock, Inc.

The $558 Million Ownership Transformation

The real story is the massive change in ownership that occurred in August 2025. This wasn't a slow accumulation; it was a single, decisive private placement (PIPE transaction) that fundamentally re-rated the company. Verb Technology Company, Inc. closed an upsized and oversubscribed private placement, raising approximately $558 million in gross proceeds. This capital came from over 110 institutional and crypto-native investors, completely changing the shareholder base and the company's direction overnight. That's a huge vote of confidence.

The deal was led by Kingsway Capital and anchored by significant players in the digital asset space, including Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA). These new shareholders purchased approximately 58.7 million shares (including pre-funded warrants) at a price of $9.51 per share. This single transaction brought in institutional capital that dwarfs the prior holdings, confirming a massive shift in who owns the company and why. The company then had 60,538,870 shares of Common Stock outstanding as of August 7, 2025.

Impact on Strategy: Why They're Buying

The role of these new, large institutional investors is not passive; they are the architects of the company's new strategy. They aren't buying a social commerce platform; they are buying the first publicly traded treasury reserve of Toncoin ($TON), the native cryptocurrency of The Open Network (TON) blockchain. This is a complete pivot, which is defintely a high-risk, high-reward move.

The institutional money is buying into the 'TON Treasury Strategy,' which involves using the majority of the $558 million net proceeds to acquire and stake $TON. This positions the company, which is rebranding as TON Strategy Co. (TSC) (effective September 2, 2025), as one of the largest holders of $TON globally. This move ties the company's stock price and long-term value directly to the performance of a major digital asset and the execution of a new management team with deep crypto expertise. The institutional backing provides the capital and the strategic mandate to execute this bold plan.

The impact is clear: the institutional money has driven a complete business model overhaul, pivoting the company's market capitalization, which sits at approximately $856.81 million as of November 17, 2025, toward the digital asset space. You can read more about the long-term vision in their Mission Statement, Vision, & Core Values of Verb Technology Company, Inc. (VERB).

To summarize the institutional commitment and its effect:

The action item for you is to stop analyzing VERB as a software-as-a-service (SaaS) company and start evaluating it as a crypto-treasury play. The institutional buyers have already made that decision for you.

Key Investors and Their Impact on Verb Technology Company, Inc. (VERB)

You're looking at Verb Technology Company, Inc. (VERB) and seeing a stock that's done a massive pivot, and you need to know who is driving that change. The short answer is: a new, powerful cohort of institutional and crypto-native investors who have fundamentally reshaped the company's entire business model. This isn't your typical SaaS story anymore; it's a digital asset treasury play, and the money behind it is serious.

The most significant shift happened in August 2025 with an oversubscribed Private Investment in Public Equity (PIPE) transaction. This deal brought in approximately $558 million in gross proceeds and was the catalyst for the company's rebranding to TON Strategy Company (TONX), effective September 2, 2025. Honestly, this move is a complete transformation, changing the company from an interactive video commerce platform to a holder of Toncoin ($TON), the native cryptocurrency of The Open Network (TON) blockchain. This is defintely a high-stakes bet.

The New Guard: Crypto-Native Institutional Backing

The investors who anchored the August 2025 PIPE transaction are the new power brokers. This group, which included over 110 institutional and accredited investors, is not focused on the legacy software business. They are interested in the digital asset strategy and the company's plan to become one of the largest holders of $TON globally, representing about 5% of TON's circulating supply.

The key players leading this strategic pivot include:

• Kingsway Capital: Led the entire transaction.
• Vy Capital: A major anchor investor, signaling strong conviction.
• Blockchain.com: A crypto-native firm, validating the new direction.
• Ribbit Capital: A prominent FinTech venture firm.
• Graticule (GAMA): Another significant institutional participant.

This new investor base has a direct and immediate impact on company decisions. The transaction installed a new management team, led by Executive Chairman Manuel Stotz, and the entire corporate focus shifted to the digital asset treasury strategy. Plus, to show their long-term commitment, 36% of the share capital from the PIPE deal is subject to a 6-to-12-month lock-up period.

The Legacy Institutional Holders

Before the massive pivot, the institutional ownership was much smaller, but still included some household names. As of recent filings, institutional investors held a total of 861,005 shares, representing about 7.24% of the stock. This is a low percentage, which is typical for a smaller, pre-pivot company, but it includes large index fund managers who hold shares passively.

Here's the quick math on the pre-pivot institutional position versus the overall market value. With the stock trading around $14.50 per share as of November 21, 2025, the company's market capitalization is approximately $877.814 million. The legacy institutional holdings are a small fraction of the total outstanding shares, which stood at 60,538,870 as of August 7, 2025.

The influence of these legacy holders, like Vanguard Group Inc and BlackRock, Inc., is generally passive. They hold the stock through index funds, so their position doesn't typically drive strategic change. They are simply mandated to hold the shares because Verb Technology Company, Inc. (VERB) is part of the index the fund tracks.

Recent Moves and the Strategic Pivot

The biggest recent move is the strategic pivot itself. The institutional money from the PIPE deal is being used to acquire $TON, fundamentally changing the company's balance sheet and risk profile. This is a clear case of investors dictating a new path, moving away from the original Mission Statement, Vision, & Core Values of Verb Technology Company, Inc. (VERB). to embrace the high-growth, high-volatility world of digital assets.

The former CEO, Rory J. Cutaia, beneficially owned 889,065 shares, or 1.5% of the outstanding stock as of August 11, 2025, but his latest filing was an exit filing, which underscores the complete changing of the guard. Insider ownership is now very low, at around 0.55%. This means the company's direction is overwhelmingly controlled by the new institutional investors and the management team they installed.

What this estimate hides is the potential volatility. The new investors are betting on the growth of the TON ecosystem, which is tied to Telegram's massive user base. So, your investment thesis now hinges less on SaaS revenue growth-which was $2.123 million for Q2 2025-and more on the price movement of a single cryptocurrency.

Next Step: Portfolio Manager: Model the new TON Strategy Company (TONX) with a crypto-treasury valuation framework by the end of the month.

Market Impact and Investor Sentiment

You are looking at Verb Technology Company, Inc. (VERB) and trying to figure out if the big money is buying or selling, and honestly, the answer changed fundamentally in the middle of 2025. The investor profile for VERB is now split into two distinct eras: before and after the August 2025 strategic pivot.

The current investor sentiment is best described as cautiously optimistic, but only among a new class of investors. The company's announcement in August 2025 of a massive shift to become a Toncoin ($TON) treasury reserve company-a strategy that led to a planned rebrand as TON Strategy Company-completely reset the shareholder base. This move was immediately backed by a massive, oversubscribed Private Investment in Public Equity (PIPE) transaction, which raised approximately $558 million. That's a huge vote of confidence from a new set of institutional and crypto-native investors. The old guard, focused solely on the social commerce business, mostly checked out.

Here's the quick math on the pivot's backing:

• PIPE Proceeds: ~$558 million.
• Shares Sold: Approximately 58.7 million shares.
• Price per Share: $9.51.

The New Institutional Backing and Ownership Shift

The key takeaway is that the new major shareholders are not your typical small-cap tech funds; they are firms like Kingsway Capital, Vy Capital, Blockchain.com, and Ribbit Capital, who are specifically betting on the digital asset strategy. This is a complete change in who is buying and why. Before the pivot, institutional ownership was relatively small, at around 7.24% of the stock. Even major players like BlackRock, Inc. and Citadel Advisors LLC had been removing shares in the prior quarter, with Citadel Advisors LLC removing 1,347,270 shares in Q4 2024.

The recent $558 million capital injection is what matters now. It positions Verb Technology Company, Inc. to be one of the largest holders of Toncoin globally, which is a significant strategic advantage. This institutional buying is not about the legacy social commerce platforms but about the Mission Statement, Vision, & Core Values of Verb Technology Company, Inc. (VERB) as a digital asset play. Still, the dilution from the 58.7 million new shares is a risk you defintely need to factor into your per-share value calculation.

Market Response to the Strategic Pivot

The stock market's reaction to this transformative news in August 2025 was volatile, as you'd expect from such a fundamental business model change. The share price as of November 21, 2025, was around $14.50. This price point is up significantly-a 48.11% increase from the $9.79 share price recorded in November 2024-showing a clear long-term positive move leading up to the pivot's execution.

However, the stock did see a short-term drop of 12.5% immediately following the August announcement, which is a classic reaction to massive capital raises and the potential for a follow-on equity offering of up to $1 billion. The market is weighing the huge capital and strategic upside against the risk of ongoing dilution. The new leadership, including Executive Chairman Manuel Stotz, is now tasked with executing the Toncoin strategy efficiently.

Wall Street Analyst Perspectives

Analyst sentiment on Verb Technology Company, Inc. is bullish on the future, despite the historical financials. Currently, the consensus rating from the single Wall Street analyst covering the stock is a 'Buy,' with a price target set at a whopping $62.00. That implies a substantial predicted upside of 326.12% from the current trading price. That's a big bet on the new crypto-treasury model.

What this estimate hides is the company's current financial standing, which is still in transition. For the fiscal year ending December 2025, the forecasted annual Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is expected to be negative $4 million. The expected Earnings Per Share (EPS) for the same period is negative $8.03 per share, though this is a 58.8% improvement from the prior year.

The bullish view is purely forward-looking, anchored by the strong Q1 2025 revenue of $1.305 million (an 80% jump over Q4 2024) and the belief that the new $558 million in capital will be deployed effectively to generate staking rewards from the Toncoin treasury. It's a growth story, not a value play right now.

Finance: draft a clear risk/reward memo by end of next week detailing the Toncoin staking yield potential versus the risk of further share dilution from the $1 billion follow-on equity offering. You need to know your entry point.