Pertento Partners LLP Trims Stake in Core Scientific, Inc. (NASDAQ:CORZ)

Pertento Partners LLP lessened its position in Core Scientific, Inc. (NASDAQ:CORZ) by 69.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 521,738 shares of the company’s stock after selling 1,181,464 shares during the quarter. Core Scientific makes up about 0.6% of Pertento Partners LLP’s investment portfolio, making the stock its 23rd largest holding. Pertento Partners LLP’s holdings in Core Scientific were worth $7,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Core Scientific by 54.3% during the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company’s stock valued at $272,270,000 after purchasing an additional 6,819,406 shares during the last quarter. ORG Wealth Partners LLC raised its stake in Core Scientific by 0.3% during the fourth 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. Parsifal Capital Management LP boosted its holdings in Core Scientific by 3.9% in the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after acquiring an additional 204,314 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after acquiring an additional 1,113,285 shares during the last quarter. Finally, State Street Corp raised its position in shares of Core Scientific by 17.0% in the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after purchasing an additional 583,493 shares during the last quarter.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jordan Levy acquired 62,500 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares in the company, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 748,282 shares of company stock worth $10,978,104. Insiders own 32.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cantor Fitzgerald reduced their price objective on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC dropped their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. BTIG Research upped their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Craig Hallum initiated coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective for the company. Fifteen investment 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, the stock has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Price Performance

Shares of CORZ stock opened at $7.48 on Friday. The company’s fifty day moving average price is $10.89 and its 200-day moving average price is $13.08. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -1.38 and a beta of 6.83. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share 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 the consensus estimate of $97.07 million. Equities research analysts expect 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.