CleanSpark, Inc. (NASDAQ:CLSK) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 29.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,244 shares of the company’s stock after selling 8,693 shares during the quarter. Principal Financial Group Inc.’s holdings in CleanSpark were worth $198,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Bank of Canada FI raised its stake in CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares during the period. Russell Investments Group Ltd. grew its position in CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after buying an additional 787 shares in the last quarter. Hollencrest Capital Management bought a new stake in CleanSpark in the 2nd quarter valued at $48,000. Amalgamated Bank raised its holdings in shares of CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insider Activity at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. This trade represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 26,272 shares of company stock valued at $250,003. 2.99% of the stock is owned by corporate insiders.

CleanSpark Stock Down 1.0 %

NASDAQ:CLSK opened at $14.95 on Tuesday. CleanSpark, Inc. has a 52-week low of $5.16 and a 52-week high of $24.72. The stock’s 50-day simple moving average is $11.37 and its 200 day simple moving average is $13.61.

Wall Street Analyst Weigh In

Several analysts have recently commented on CLSK shares. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. Finally, Macquarie initiated coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CleanSpark currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

CleanSpark Profile

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.