Core Scientific, Inc. (NASDAQ:CORZ) CEO Sells $1,258,531.20 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Core Scientific Stock Performance

Shares of Core Scientific stock opened at $15.38 on Friday. The firm has a 50-day moving average of $15.60 and a 200-day moving average of $12.42. 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 $4.29 billion and a PE ratio of -2.84.

Analyst Ratings Changes

A number of brokerages recently weighed in on CORZ. HC Wainwright boosted their target price on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Macquarie boosted their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. BTIG Research raised 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. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Needham & Company LLC raised their price objective on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $18.46.

Institutional Trading of Core Scientific

A number of institutional investors have recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new position in shares of Core Scientific during the third quarter worth approximately $106,266,000. Parsifal Capital Management LP grew its position in Core Scientific by 3.9% during the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after buying an additional 204,314 shares in the last quarter. Geode Capital Management LLC raised its holdings in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. State Street Corp lifted its position in shares of Core Scientific by 17.0% during the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after acquiring an additional 583,493 shares during the period. Finally, Taconic Capital Advisors LP grew its holdings in shares of Core Scientific by 178.7% during the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares in the last quarter.

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.