Piar LLC Sells 26,695 Shares of IREN Limited $IREN

Key Points

• Piar LLC cut its IREN stake by 59.8% in the first quarter, selling 26,695 shares and leaving it with 17,964 shares valued at about $616,000, according to its latest 13F filing.
• Institutional activity around IREN remains active, with several funds adding to or initiating positions; overall institutional ownership stands at 41.08% of the company.
• Analysts remain broadly positive on IREN, with a consensus rating of “Moderate Buy” and an average price target of $82.36, even as the stock has seen mixed recent performance and IREN reported weaker-than-expected quarterly results earlier in the year.

Piar LLC decreased its holdings in IREN Limited (NASDAQ:IREN - Free Report) by 59.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,964 shares of the company's stock after selling 26,695 shares during the period. Piar LLC's holdings in IREN were worth $616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. bought a new stake in IREN in the first quarter valued at approximately $20,878,000. Triglav Investments D.O.O. bought a new position in shares of IREN in the first quarter worth approximately $871,000. Oppenheimer & Co. Inc. grew its holdings in shares of IREN by 257.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,958 shares of the company's stock worth $1,018,000 after purchasing an additional 19,423 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of IREN by 282.2% in the fourth quarter. Sanctuary Advisors LLC now owns 46,224 shares of the company's stock worth $1,746,000 after buying an additional 34,129 shares during the period. Finally, Avaii Wealth Management LLC increased its stake in shares of IREN by 208.9% in the fourth quarter. Avaii Wealth Management LLC now owns 145,767 shares of the company's stock worth $5,506,000 after buying an additional 98,581 shares during the period. Institutional investors own 41.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of IREN from $70.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. B. Riley Financial raised their price target on shares of IREN from $88.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Citigroup restated a "market outperform" rating on shares of IREN in a research report on Tuesday. BTIG Research increased their target price on shares of IREN to $80.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of IREN in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, IREN has a consensus rating of "Moderate Buy" and an average target price of $82.36.

IREN News Summary

Here are the key news stories impacting IREN this week:

• Positive Sentiment: IREN secured $2.8 billion in new AI cloud contracts, giving the company much stronger revenue visibility and helping validate its transition into a neocloud provider. Article Title
• Positive Sentiment: The company lifted its 2026 AI cloud ARR target to above $4 billion, signaling faster-than-expected momentum in its high-growth data center and AI infrastructure business. Article Title
• Positive Sentiment: Analysts and traders are betting the contract news could trigger a major revaluation, as it strengthens IREN’s pivot away from mining and toward recurring enterprise AI revenue. Article Title
• Neutral Sentiment: Recent commentary also highlighted that IREN remains highly volatile and still faces execution risks around capital spending, power availability, and data center buildout timelines. Article Title
• Negative Sentiment: One article noted that IREN had fallen sharply over the prior month before this announcement, underscoring how much investor sentiment had been depressed before the new deal wave. Article Title

IREN Price Performance

Shares of IREN stock opened at $40.20 on Tuesday. The business has a 50 day moving average of $51.94 and a 200 day moving average of $47.64. IREN Limited has a 52 week low of $14.72 and a 52 week high of $76.87. The company has a market cap of $14.37 billion, a PE ratio of 83.75 and a beta of 4.27. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.44.

IREN (NASDAQ:IREN - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). IREN had a net margin of 20.90% and a negative return on equity of 13.13%. The company had revenue of $144.79 million for the quarter, compared to analysts' expectations of $219.69 million. As a group, equities research analysts forecast that IREN Limited will post -1.25 earnings per share for the current year.

IREN Company 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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