Wellington Management Group LLP Sells 13,331 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Wellington Management Group LLP cut its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 34.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,326 shares of the company’s stock after selling 13,331 shares during the period. Wellington Management Group LLP’s holdings in Core Scientific were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CORZ. ORG Wealth Partners LLC acquired a new stake in shares of Core Scientific during the third quarter worth about $106,266,000. Rush Island Management LP bought a new stake in Core Scientific during the 3rd quarter worth approximately $32,221,000. Taconic Capital Advisors LP raised its holdings in 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 buying an additional 1,742,462 shares during the period. Mirabella Financial Services LLP bought a new position in Core Scientific in the third quarter valued at approximately $18,383,000. Finally, Van ECK Associates Corp acquired a new position in shares of Core Scientific in the second quarter valued at approximately $12,239,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CORZ shares. BTIG Research raised their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group initiated coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $18.46.

Core Scientific Price Performance

Shares of CORZ stock opened at $14.13 on Friday. The company has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $12.01. The stock has a market cap of $3.95 billion and a P/E ratio of -2.61. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares in the company, valued at $28,411,205.40. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Company Profile

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.