Core Scientific, Inc. (NASDAQ:CORZ) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Core Scientific, Inc. (NASDAQ:CORZ) by 54.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,378,652 shares of the company’s stock after purchasing an additional 6,819,406 shares during the period. Vanguard Group Inc. owned 6.94% of Core Scientific worth $272,270,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after buying an additional 1,113,285 shares during the last quarter. Whitefort Capital Management LP raised its position in Core Scientific by 337.1% in the 3rd quarter. Whitefort Capital Management LP now owns 1,147,500 shares of the company’s stock valued at $13,609,000 after purchasing an additional 885,000 shares during the last quarter. Heritage Oak Wealth Advisors LLC acquired a new stake in Core Scientific during the 4th quarter worth $10,301,000. Charles Schwab Investment Management Inc. grew its position in Core Scientific by 44.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,932,462 shares of the company’s stock worth $22,919,000 after purchasing an additional 590,946 shares during the last quarter. Finally, State Street Corp increased its stake in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares during the period.

Insiders Place Their Bets

In related 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jordan Levy bought 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the purchase, the director now directly owns 306,887 shares in the company, valued at $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 90 days, insiders 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 0.4 %

Shares of NASDAQ CORZ opened at $7.18 on Friday. The company’s 50-day moving average price is $10.07 and its 200 day moving average price is $12.98. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -1.33 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ) last released 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 analyst estimates of $97.07 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CORZ. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. 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 research note on Thursday, February 27th. BTIG Research upped their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. Finally, Compass Point cut their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Core Scientific has an average rating of “Buy” and an average target price of $19.07.

Core Scientific 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.