Alliancebernstein L.P. Has $2.85 Million Holdings in Core Scientific, Inc. (NASDAQ:CORZ)

Alliancebernstein L.P. boosted its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,859 shares of the company’s stock after acquiring an additional 16,239 shares during the period. Alliancebernstein L.P. owned 0.07% of Core Scientific worth $2,850,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after purchasing an additional 583,493 shares during the period. Geode Capital Management LLC grew 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 buying an additional 1,113,285 shares during the last quarter. Sanctuary Advisors LLC increased its position in Core Scientific by 130.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,527 shares of the company’s stock worth $409,000 after buying an additional 19,522 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Core Scientific by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 437,812 shares of the company’s stock worth $5,192,000 after buying an additional 142,068 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Core Scientific by 25.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,000 shares during the period.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,277 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the transaction, the insider now owns 2,023,423 shares in the company, valued at $32,860,389.52. This represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now directly owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 530,041 shares of company stock valued at $7,870,352. 32.00% of the stock is currently owned by corporate insiders.

Core Scientific Stock Down 3.0 %

Shares of CORZ stock opened at $6.85 on Wednesday. The company has a market capitalization of $2.02 billion, a P/E ratio of -1.27 and a beta of 6.80. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $18.63. The firm has a 50-day moving average price of $9.16 and a 200 day moving average price of $12.65.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to the consensus estimate of $97.07 million. As a group, research analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CORZ. Keefe, Bruyette & Woods began coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an “outperform” rating and a $22.00 target price for the company. Cantor Fitzgerald decreased their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Wednesday, March 12th. Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Needham & Company LLC cut their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $19.07.

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.