Legato Capital Management LLC Grows Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Legato Capital Management LLC lifted its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 51.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,497 shares of the company’s stock after purchasing an additional 40,493 shares during the quarter. Legato Capital Management LLC’s holdings in Core Scientific were worth $1,665,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CORZ. The Manufacturers Life Insurance Company purchased a new position in Core Scientific in the second quarter worth $598,000. Sanctuary Advisors LLC purchased a new position in Core Scientific in the second quarter worth $140,000. Creative Planning raised its position in Core Scientific by 88.0% in the third quarter. Creative Planning now owns 32,925 shares of the company’s stock worth $389,000 after acquiring an additional 15,413 shares in the last quarter. Aspect Partners LLC raised its position in Core Scientific by 328.9% in the third quarter. Aspect Partners LLC now owns 35,678 shares of the company’s stock worth $423,000 after acquiring an additional 27,360 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in Core Scientific by 10.4% in the third quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after acquiring an additional 3,591 shares in the last quarter.

Analyst Upgrades and Downgrades

CORZ has been the subject of several research analyst reports. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Macquarie upped their target price on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price on the stock. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.07.

Core Scientific Stock Down 4.4 %

CORZ opened at $12.26 on Wednesday. Core Scientific, Inc. has a 52 week low of $2.61 and a 52 week high of $18.63. The business’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $13.13.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 25,277 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $410,498.48. Following the transaction, the insider now directly owns 2,023,423 shares in the company, valued at $32,860,389.52. This trade represents a 1.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 744,032 shares of company stock valued at $11,863,966. 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.