Titleist Asset Management LLC Sells 81,626 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Titleist Asset Management LLC lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 44.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,725 shares of the company’s stock after selling 81,626 shares during the quarter. Titleist Asset Management LLC’s holdings in Core Scientific were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Core Scientific by 76.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 113,257 shares of the company’s stock worth $1,343,000 after purchasing an additional 48,929 shares in the last quarter. FMR LLC acquired a new stake in Core Scientific during the third quarter worth about $2,903,000. MetLife Investment Management LLC increased its holdings in Core Scientific by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 103,583 shares of the company’s stock valued at $1,228,000 after buying an additional 58,365 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Core Scientific in the 3rd quarter valued at approximately $348,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Core Scientific during the 3rd quarter worth approximately $2,651,000.

Wall Street Analyst Weigh In

Several brokerages have commented on CORZ. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, March 11th. Needham & Company LLC lowered 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. BTIG Research lifted their target price on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald decreased their price target on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $19.07.

Core Scientific Stock Up 0.4 %

NASDAQ CORZ opened at $7.18 on Friday. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -1.33 and a beta of 6.80. Core Scientific, Inc. has a twelve month low of $2.61 and a twelve month high of $18.63. The stock has a fifty day simple moving average of $10.07 and a 200 day simple moving average of $12.99.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data 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 the consensus estimate of $97.07 million. Research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 25,277 shares of Core Scientific 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 transaction, the insider now owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. This trade represents a 40.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 530,041 shares of company stock worth $7,870,352. Company insiders own 32.00% of the company’s stock.

About Core Scientific

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.