California State Teachers Retirement System grew its position in Core Scientific, Inc. (NASDAQ:CORZ – Free Report) by 22.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,936 shares of the company’s stock after purchasing an additional 52,260 shares during the period. California State Teachers Retirement System’s holdings in Core Scientific were worth $4,322,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after buying an additional 5,359,710 shares during the period. Nations Financial Group Inc. IA ADV purchased a new position in shares of Core Scientific in the 4th quarter valued at $2,980,000. Jennison Associates LLC purchased a new position in shares of Core Scientific in the 4th quarter valued at $14,075,000. Oasis Management Co Ltd. acquired a new position in shares of Core Scientific during the 4th quarter valued at $38,493,000. Finally, Sandro Wealth Management LLC purchased a new stake in Core Scientific during the 4th quarter worth $4,493,000.
Insider Buying and Selling
In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $22.23, for a total transaction of $222,300.00. Following the completion of the sale, the insider owned 1,979,101 shares in the company, valued at $43,995,415.23. This trade represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 90,000 shares of company stock valued at $2,248,600 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.
Core Scientific Price Performance
Core Scientific (NASDAQ:CORZ – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. On average, sell-side analysts anticipate that Core Scientific, Inc. will post -1.36 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Jefferies Financial Group raised their price objective on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. B. Riley Financial upped their target price on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $32.00 target price on shares of Core Scientific in a research note on Wednesday, June 3rd. Capital One Financial set a $33.00 target price on Core Scientific in a report on Thursday, July 30th. Finally, Compass Point reissued a “buy” rating and set a $36.00 price target on shares of Core Scientific in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.18.
Check Out Our Latest Stock Report on Core Scientific
Core Scientific Company Profile
Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.
Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.
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