Core Scientific, Inc. (NASDAQ:CORZ) Shares Purchased by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) by 2,905.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 395,075 shares of the company's stock after buying an additional 381,928 shares during the period. Sei Investments Co. owned about 0.14% of Core Scientific worth $5,551,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CORZ. Intech Investment Management LLC purchased a new position in Core Scientific in the third quarter worth $315,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Core Scientific by 44.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company's stock valued at $22,919,000 after purchasing an additional 590,946 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Core Scientific by 76.1% during the third quarter. The Manufacturers Life Insurance Company now owns 113,257 shares of the company's stock worth $1,343,000 after buying an additional 48,929 shares in the last quarter. FMR LLC purchased a new stake in Core Scientific during the third quarter worth about $2,903,000. Finally, MetLife Investment Management LLC grew its position in Core Scientific by 129.1% during the third quarter. MetLife Investment Management LLC now owns 103,583 shares of the company's stock worth $1,228,000 after buying an additional 58,365 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CORZ shares. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Wednesday, March 12th. Needham & Company LLC lowered their target price on Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Compass Point cut their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. HC Wainwright reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an "outperform" rating and a $22.00 target price for the company. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and a consensus target price of $19.07.

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Insider Buying and Selling

In other news, insider Todd M. Duchene sold 25,277 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares of the company's stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jordan Levy bought 62,500 shares of the business'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 transaction, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This trade represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 530,041 shares of company stock valued at $7,870,352. Insiders own 32.00% of the company's stock.

Core Scientific Stock Up 0.4 %

Shares of NASDAQ:CORZ traded up $0.03 during midday trading on Friday, reaching $7.18. The company's stock had a trading volume of 24,842,286 shares, compared to its average volume of 12,042,007. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -1.33 and a beta of 6.80. The business has a 50 day moving average price of $10.07 and a 200 day moving average price of $12.99. Core Scientific, Inc. has a 1 year low of $2.61 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analysts' expectations of $97.07 million. Sell-side analysts anticipate that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

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.