Geode Capital Management LLC Has $77.76 Million Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Geode Capital Management LLC increased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,532,715 shares of the company's stock after acquiring an additional 256,142 shares during the period. Geode Capital Management LLC owned about 1.98% of Core Scientific worth $77,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Xponance Inc. boosted its stake in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company's stock worth $180,000 after buying an additional 937 shares during the last quarter. Wellington Shields & Co. LLC acquired a new position in Core Scientific during the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific during the fourth quarter valued at approximately $34,000. Joel Isaacson & Co. LLC grew its stake in Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock valued at $815,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific during the 4th quarter worth approximately $42,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CORZ shares. BTIG Research upped their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Compass Point dropped their target price on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Needham & Company LLC reduced their price target on Core Scientific from $18.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald lowered their price target on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods initiated coverage on Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 price objective for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $19.07.

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Core Scientific Trading Down 3.0 %

NASDAQ CORZ traded down $0.21 during trading on Tuesday, reaching $6.85. The company's stock had a trading volume of 9,966,720 shares, compared to its average volume of 12,350,055. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a 50 day moving average price of $9.28 and a 200 day moving average price of $12.69. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -1.27 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly 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 company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. On average, equities analysts forecast that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the company'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 transaction of $6,004,122.88. Following the completion of the sale, the chief executive officer now owns 3,758,793 shares of the company's stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jordan Levy acquired 62,500 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 530,041 shares of company stock valued at $7,870,352. 32.00% of the stock is owned by corporate insiders.

Core Scientific Company Profile

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.