Principal Financial Group Inc. Sells 6,896 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Principal Financial Group Inc. decreased its position in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 30.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,777 shares of the company’s stock after selling 6,896 shares during the period. Principal Financial Group Inc.’s holdings in Core Scientific were worth $187,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the second quarter worth $28,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter worth $33,000. Vontobel Holding Ltd. grew its stake in Core Scientific by 10.4% during the third quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock valued at $452,000 after acquiring an additional 3,591 shares in the last quarter. Finally, Harvest Portfolios Group Inc. increased its holdings in Core Scientific by 10.1% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock valued at $663,000 after acquiring an additional 5,109 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on CORZ. HC Wainwright increased their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie boosted their target price on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd. B. Riley raised their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.38.

Core Scientific Price Performance

CORZ stock opened at $18.11 on Tuesday. The company has a market capitalization of $5.06 billion and a PE ratio of -3.37. The firm’s 50-day moving average is $13.67 and its 200 day moving average is $10.42. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $18.51.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jarrod M. Patten bought 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 12,761 shares of company stock valued at $127,080 over the last quarter.

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.