Cipher Mining (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 900,000 Shares

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 900,000 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $12.37, for a total transaction of $11,133,000.00. Following the completion of the transaction, the insider directly owned 77,642,259 shares of the company’s stock, valued at approximately $960,434,743.83. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Holding Ltd V3 also recently made the following trade(s):

• On Monday, September 22nd, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.85, for a total transaction of $11,565,000.00.
• On Wednesday, September 17th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $11.77, for a total transaction of $10,593,000.00.
• On Monday, September 15th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $10.80, for a total transaction of $9,720,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $10.60, for a total transaction of $9,540,000.00.
• On Wednesday, September 10th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $9.98, for a total transaction of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.48, for a total transaction of $4,488,000.00.
• On Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.38, for a total transaction of $4,428,000.00.
• On Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.60, for a total transaction of $5,320,000.00.
• On Tuesday, September 2nd, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $8.13, for a total transaction of $4,878,000.00.
• On Wednesday, July 30th, Holding Ltd V3 sold 369,984 shares of Cipher Mining stock. The stock was sold at an average price of $5.61, for a total transaction of $2,075,610.24.

Cipher Mining Stock Up 13.7%

NASDAQ CIFR opened at $13.96 on Tuesday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $7.22 and a two-hundred day moving average of $4.76. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -32.47 and a beta of 2.75. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $14.20.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $43.57 million during the quarter, compared to analyst estimates of $51.89 million. Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. On average, analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently modified their holdings of CIFR. Millennium Management LLC purchased a new stake in shares of Cipher Mining during the first quarter worth about $9,316,000. Alyeska Investment Group L.P. purchased a new stake in shares of Cipher Mining during the first quarter worth about $7,094,000. Helix Partners Management LP grew its stake in shares of Cipher Mining by 95.8% during the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock worth $10,120,000 after acquiring an additional 2,153,058 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after acquiring an additional 2,023,994 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after acquiring an additional 1,610,073 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CIFR shares. Macquarie boosted their target price on shares of Cipher Mining from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Canaccord Genuity Group boosted their target price on shares of Cipher Mining from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Compass Point started coverage on shares of Cipher Mining in a research note on Monday, September 15th. They set a “buy” rating for the company. Cantor Fitzgerald boosted their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 5th. Finally, Jones Trading started coverage on shares of Cipher Mining in a research note on Monday, July 21st. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.11.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.