Westfield Capital Management Co. LP Sells 600,603 Shares of Core Scientific, Inc. $CORZ

Westfield Capital Management Co. LP decreased its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 30.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,392,132 shares of the company’s stock after selling 600,603 shares during the period. Westfield Capital Management Co. LP owned approximately 0.45% of Core Scientific worth $20,269,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CORZ. AQR Capital Management LLC boosted its stake in shares of Core Scientific by 106.1% during the 1st quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after purchasing an additional 145,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Core Scientific by 180.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after acquiring an additional 714,388 shares during the period. Cetera Investment Advisers grew its holdings in shares of Core Scientific by 200.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock worth $663,000 after acquiring an additional 25,878 shares during the period. Franklin Resources Inc. purchased a new position in shares of Core Scientific during the 2nd quarter worth approximately $181,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Core Scientific by 61.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock worth $67,000 after acquiring an additional 1,507 shares during the period.

Core Scientific Stock Down 7.4%

Core Scientific stock opened at $25.85 on Friday. The company has a market capitalization of $8.22 billion, a P/E ratio of -22.68 and a beta of 5.49. The stock’s 50 day moving average is $21.58 and its 200 day moving average is $18.41. Core Scientific, Inc. has a twelve month low of $10.93 and a twelve month high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million during the quarter, compared to the consensus estimate of $117.04 million. The firm’s revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts expect that Core Scientific, Inc. will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BTIG Research upped their target price on Core Scientific from $23.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald upped their target price on Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Core Scientific in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a report on Monday, April 20th. Finally, Jefferies Financial Group upped their target price on Core Scientific from $24.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.83.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.25, for a total value of $262,500.00. Following the sale, the insider owned 2,088,895 shares in the company, valued at $54,833,493.75. This represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock valued at $1,195,900. Corporate insiders own 1.70% of the company’s stock.

Core Scientific Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.