XTX Topco Ltd Has $41,000 Stake in Cipher Mining Inc. $CIFR

Key Points

• XTX Topco Ltd significantly reduced its holdings in Cipher Mining Inc. by 82.1%, leaving it with 17,983 shares valued at $41,000.
• Major shareholder Holding Ltd V3 sold 369,984 shares at an average price of $5.61, decreasing their ownership by 0.41% and retaining 90,942,259 shares.
• Several analysts have a positive outlook on Cipher Mining, with ratings of "buy" and "overweight", indicating potential growth and a consensus target price of $7.56.

XTX Topco Ltd trimmed its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 82.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,983 shares of the company's stock after selling 82,340 shares during the period. XTX Topco Ltd's holdings in Cipher Mining were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CIFR. V3 Holding Ltd bought a new stake in shares of Cipher Mining during the fourth quarter worth approximately $452,713,000. Lone Pine Capital LLC bought a new stake in shares of Cipher Mining during the fourth quarter worth approximately $10,878,000. Driehaus Capital Management LLC bought a new stake in shares of Cipher Mining during the fourth quarter worth approximately $9,439,000. Voloridge Investment Management LLC bought a new stake in shares of Cipher Mining during the fourth quarter worth approximately $5,378,000. Finally, Vident Advisory LLC raised its stake in shares of Cipher Mining by 29.4% during the fourth quarter. Vident Advisory LLC now owns 4,250,078 shares of the company's stock worth $19,720,000 after buying an additional 965,648 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Insider Activity at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $6.11, for a total value of $4,075,431.10. Following the completion of the transaction, the insider owned 93,667,437 shares in the company, valued at $572,308,040.07. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holding Ltd V3 sold 500,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $6.19, for a total transaction of $3,095,000.00. Following the completion of the transaction, the insider owned 91,378,292 shares of the company's stock, valued at $565,631,627.48. This trade represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,466,662 shares of company stock valued at $33,020,046 in the last quarter. Corporate insiders own 2.89% of the company's stock.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on shares of Cipher Mining from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Macquarie upped their target price on shares of Cipher Mining from $6.00 to $8.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald upped their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.67.

Cipher Mining Stock Down 0.8%

Shares of Cipher Mining stock traded down $0.05 on Thursday, hitting $5.90. The company had a trading volume of 20,579,739 shares, compared to its average volume of 22,116,902. The firm has a market capitalization of $2.32 billion, a P/E ratio of -13.72 and a beta of 2.73. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. The stock has a 50-day moving average of $5.31 and a 200-day moving average of $4.16.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $43.57 million during the quarter, compared to analysts' expectations of $51.89 million. Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. Research analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Cipher Mining Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.