Matauro LLC Increases Holdings in IREN Limited $IREN

Key Points

• Matauro LLC has increased its holdings in IREN Limited by 25.1% during the second quarter, owning 39,421 shares valued at approximately $574,000 at the end of the quarter.
• Wall Street analysts are optimistic about IREN, with several price target increases reported, including Cantor Fitzgerald raising it from $27.00 to $41.00 and Sanford C. Bernstein setting a target of $75.00.
• The company's CEO sold 1,000,000 shares at an average price of $33.13, resulting in a total transaction of approximately $33.13 million, while still retaining about 13.99 million shares valued at around $463.48 million.

Matauro LLC increased its position in IREN Limited (NASDAQ:IREN - Free Report) by 25.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 39,421 shares of the company's stock after purchasing an additional 7,900 shares during the period. Matauro LLC's holdings in IREN were worth $574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of IREN in the 1st quarter valued at about $39,000. Quarry LP purchased a new stake in shares of IREN in the 1st quarter valued at about $40,000. Delta Financial Group Inc. purchased a new stake in shares of IREN in the 1st quarter valued at about $61,000. R Squared Ltd lifted its holdings in shares of IREN by 170.1% in the 1st quarter. R Squared Ltd now owns 10,290 shares of the company's stock valued at $63,000 after purchasing an additional 6,480 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in shares of IREN in the 1st quarter valued at about $69,000. 41.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IREN has been the topic of several recent research reports. Cantor Fitzgerald boosted their price target on IREN from $27.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Sanford C. Bernstein restated an "outperform" rating and issued a $75.00 price target on shares of IREN in a research report on Thursday, September 25th. Roth Capital restated a "buy" rating and issued a $35.00 price target on shares of IREN in a research report on Friday, August 29th. Wall Street Zen upgraded IREN from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Macquarie boosted their price target on IREN from $33.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $47.73.

IREN Stock Performance

NASDAQ IREN opened at $47.02 on Friday. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $27.63 and its two-hundred day moving average is $15.86. IREN Limited has a 12-month low of $5.13 and a 12-month high of $49.39. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 79.69 and a beta of 4.18.

IREN (NASDAQ:IREN - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. IREN had a return on equity of 1.34% and a net margin of 33.03%.The company had revenue of $187.30 million for the quarter, compared to analysts' expectations of $187.51 million. Research analysts expect that IREN Limited will post 0.43 EPS for the current year.

Insider Transactions at IREN

In other IREN news, CEO Daniel John Roberts sold 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $33.13, for a total transaction of $33,130,000.00. Following the transaction, the chief executive officer owned 13,989,696 shares in the company, valued at approximately $463,478,628.48. The trade was a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 21.55% of the company's stock.

IREN Profile

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.

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