Vanguard Group Inc. Increases Position in Core Scientific, Inc. (NASDAQ:CORZ)

Vanguard Group Inc. raised its position in Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 54.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,378,652 shares of the company's stock after purchasing an additional 6,819,406 shares during the quarter. Vanguard Group Inc. owned 6.94% of Core Scientific worth $272,270,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ORG Wealth Partners LLC raised its holdings in Core Scientific by 0.3% in the 4th quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company's stock valued at $126,262,000 after buying an additional 26,649 shares during the last quarter. Geode Capital Management LLC increased its position in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company's stock valued at $62,594,000 after acquiring an additional 1,113,285 shares during the period. State Street Corp raised its stake in shares of Core Scientific by 17.0% during the third quarter. State Street Corp now owns 4,006,922 shares of the company's stock valued at $47,522,000 after acquiring an additional 583,493 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Core Scientific by 23.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,392,092 shares of the company's stock worth $33,609,000 after purchasing an additional 459,630 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Core Scientific by 26.1% in the fourth quarter. Van ECK Associates Corp now owns 2,039,718 shares of the company's stock worth $28,658,000 after purchasing an additional 422,774 shares during the last quarter.

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Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald lowered their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Compass Point cut their price objective on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. HC Wainwright reissued a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Tuesday, March 11th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a research report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective on the stock. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $19.07.

Insider Buying and Selling at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the sale, the chief executive officer now directly owns 3,758,793 shares of the company's stock, valued at $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the transaction, the insider now owns 2,023,423 shares in the company, valued at $32,860,389.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 530,041 shares of company stock valued at $7,870,352. Corporate insiders own 32.00% of the company's stock.

Core Scientific Trading Up 15.4 %

CORZ stock traded up $1.00 during trading on Wednesday, reaching $7.51. 24,619,086 shares of the stock were exchanged, compared to its average volume of 12,260,032. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The firm's 50 day moving average is $9.60 and its 200 day moving average is $12.81. The firm has a market cap of $2.21 billion, a P/E ratio of -1.39 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. As a group, analysts predict that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.