77,748 IREN Limited $IREN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its IREN stake by 10.6% in the third quarter, selling 77,748 shares. It retained 652,415 shares, valued at about $26.7 million in its latest filing.
• Analysts give IREN a consensus “Moderate Buy” rating and an average price target of $77.69; 14 analysts rate the stock a Buy, while four recommend Hold and one recommends Sell.
• Institutional investors and hedge funds own 41.08% of IREN, with several firms adding to their positions during recent quarters.

Sumitomo Mitsui Trust Group Inc. cut its holdings in IREN Limited (NASDAQ:IREN - Free Report) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 652,415 shares of the company's stock after selling 77,748 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.17% of IREN worth $26,671,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Allworth Financial LP grew its holdings in IREN by 4.4% in the 2nd quarter. Allworth Financial LP now owns 7,162 shares of the company's stock valued at $328,000 after buying an additional 305 shares during the last quarter. Versant Capital Management Inc increased its position in IREN by 14.5% in the 2nd quarter. Versant Capital Management Inc now owns 2,509 shares of the company's stock worth $115,000 after buying an additional 317 shares during the period. Hollencrest Capital Management increased its position in IREN by 50.0% in the 1st quarter. Hollencrest Capital Management now owns 1,050 shares of the company's stock worth $36,000 after buying an additional 350 shares during the period. WealthPlan Investment Management LLC increased its position in IREN by 3.7% in the 3rd quarter. WealthPlan Investment Management LLC now owns 11,190 shares of the company's stock worth $457,000 after buying an additional 404 shares during the period. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of IREN by 2.6% during the third quarter. Ascent Wealth Partners LLC now owns 15,866 shares of the company's stock worth $649,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 41.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IREN. BTIG Research reissued a "buy" rating and issued a $80.00 price objective on shares of IREN in a research report on Monday, September 14th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of IREN in a research report on Monday, July 20th. Citigroup reaffirmed a "market outperform" rating on shares of IREN in a research report on Friday, August 28th. Needham & Company LLC reiterated a "hold" rating on shares of IREN in a research note on Tuesday, July 21st. Finally, Rothschild & Co Redburn assumed coverage on shares of IREN in a report on Monday, September 21st. They issued a "neutral" rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, IREN has an average rating of "Moderate Buy" and a consensus price target of $77.69.

Key IREN News

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN reported fiscal Q1 2027 adjusted results with a loss of $0.66 per share, better than analysts’ expected $0.72 loss. Revenue was about $228 million, essentially in line with estimates, while AI cloud revenue nearly tripled to roughly $200 million. IREN Stock Pops After Q1 AI Cloud Revenue Nearly Triples to $200 Million
• Neutral Sentiment: Reports described a post-earnings bounce as investors focused on the rapid AI cloud growth, but the broader reaction remained clouded by delivery and timing concerns. Neocloud firm IREN tops quarterly revenue estimates, shares jump
• Negative Sentiment: IREN pushed its more than $4 billion annualized revenue target from 2026 to January, citing a customer request. The delay raised concerns about when planned AI infrastructure will begin generating revenue. Neocloud IREN says $4 billion in annualized revenue being delayed due to customer request
• Negative Sentiment: Reports said Microsoft had concerns about delays and costs on some IREN data-center projects, tightened oversight, and declined extensions on certain builds. Those reports triggered worries about execution and customer concentration. IREN draws tighter oversight on neocloud data center projects
• Negative Sentiment: Investors also faced uncertainty over Texas permitting and power development, particularly for capacity that has not yet secured customers. These risks add to concerns that project delays could postpone growth. Riot's $28B Lease Shows Why Location and Contracts Matter in AI

IREN Trading Down 17.0%

Shares of IREN opened at $18.03 on Friday. IREN Limited has a 12-month low of $17.16 and a 12-month high of $75.79. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -7.71 and a beta of 4.33. The stock's 50-day moving average price is $36.25 and its 200 day moving average price is $43.77.

IREN Profile

IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services.

IREN's operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads.

Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas.

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