1,694,663 Shares in Cipher Mining Inc. $CIFR Bought by Jennison Associates LLC

Key Points

• Jennison Associates LLC bought a new position of 1,694,663 shares of Cipher Mining (NASDAQ:CIFR) in Q4, spending about $25.0 million and bringing institutional ownership to roughly 12.26%.
• Insider selling has been active: insiders sold 148,229 shares (~$2.28M) in the last 90 days, including CEO Tyler Page (37,500 shares at $16.11) and COO Patrick Kelly (35,568 shares at $14.98), leaving insiders with about 2.63% ownership.
• Cipher Mining has a consensus analyst rating of "Moderate Buy" with an average target price of $25.00 (14 Buys, 2 Holds, 1 Sell), while the stock trades near $17 and has a 52-week range of $2.88–$25.52.

Jennison Associates LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,694,663 shares of the company's stock, valued at approximately $25,013,000. Jennison Associates LLC owned about 0.43% of Cipher Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D bought a new position in Cipher Mining during the fourth quarter valued at $2,183,000. Harbor Advisors LLC bought a new position in Cipher Mining during the fourth quarter valued at $148,000. Strategic Blueprint LLC increased its position in Cipher Mining by 30.6% during the fourth quarter. Strategic Blueprint LLC now owns 28,223 shares of the company's stock valued at $417,000 after acquiring an additional 6,615 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Cipher Mining during the fourth quarter valued at $195,000. Finally, M&T Bank Corp bought a new position in Cipher Mining during the fourth quarter valued at $196,000. Institutional investors own 12.26% of the company's stock.

Insider Activity

In other Cipher Mining news, CEO Tyler Page sold 37,500 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the completion of the sale, the chief executive officer directly owned 8,263,862 shares of the company's stock, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Arthur Kelly sold 35,568 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the sale, the chief operating officer directly owned 1,441,508 shares of the company's stock, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 148,229 shares of company stock valued at $2,283,968. Corporate insiders own 2.63% of the company's stock.

Cipher Mining Stock Performance

CIFR stock opened at $17.04 on Friday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of -7.89 and a beta of 3.14. The firm has a 50-day simple moving average of $15.64 and a two-hundred day simple moving average of $16.84. Cipher Mining Inc. has a one year low of $2.88 and a one year high of $25.52. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79.

Analysts Set New Price Targets

CIFR has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Cipher Mining in a research report on Wednesday, March 25th. Cantor Fitzgerald cut their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Rosenblatt Securities reiterated a "buy" rating and set a $24.00 price objective on shares of Cipher Mining in a research report on Thursday, March 26th. Keefe, Bruyette & Woods cut their price objective on shares of Cipher Mining from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 11th. Finally, Wall Street Zen cut shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 1st. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of "Moderate Buy" and an average target price of $25.00.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.

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