Insider Selling: Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells 900,000 Shares of Stock

Key Points

• Major Insider Sale: Holding Ltd V3, a major shareholder of Cipher Mining, sold 900,000 shares of the company's stock for approximately $12.97 million, decreasing their position by 1.19% to a total of 74,942,259 shares.
• Stock Performance: Cipher Mining's stock experienced a significant decline of 17.5%, trading down to $11.66, despite a substantial trading volume of over 155 million shares.
• Earnings Report: The company reported earnings of ($0.12) per share, aligning with the market consensus, but revenue fell short of expectations at $43.57 million against a $51.89 million estimate.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 900,000 shares of Cipher Mining stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $14.41, for a total value of $12,969,000.00. Following the completion of the transaction, the insider owned 74,942,259 shares in the company, valued at $1,079,917,952.19. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Holding Ltd V3 also recently made the following trade(s):

• On Thursday, September 25th, Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock. The shares were sold at an average price of $12.36, for a total value of $43,316,114.40.
• On Monday, September 22nd, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.85, for a total value of $11,565,000.00.
• On Friday, September 19th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.37, for a total value of $11,133,000.00.
• On Wednesday, September 17th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $11.77, for a total value of $10,593,000.00.
• On Monday, September 15th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $10.80, for a total value of $9,720,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $10.60, for a total value of $9,540,000.00.
• On Wednesday, September 10th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $9.98, for a total value of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.48, for a total value of $4,488,000.00.
• On Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.38, for a total value of $4,428,000.00.
• On Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.60, for a total value of $5,320,000.00.

Cipher Mining Stock Down 17.5%

NASDAQ CIFR traded down $2.48 during trading on Thursday, hitting $11.66. The company's stock had a trading volume of 155,063,578 shares, compared to its average volume of 24,266,854. 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 company has a market cap of $4.59 billion, a PE ratio of -27.12 and a beta of 2.76. The business's 50 day simple moving average is $7.54 and its 200-day simple moving average is $4.89. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $15.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CIFR. Geode Capital Management LLC lifted its holdings in Cipher Mining by 18.1% in the second quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company's stock valued at $34,621,000 after acquiring an additional 1,108,850 shares during the period. Tidal Investments LLC lifted its holdings in Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company's stock valued at $33,386,000 after acquiring an additional 1,541,138 shares during the period. Vident Advisory LLC lifted its holdings in Cipher Mining by 11.9% in the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company's stock valued at $10,934,000 after acquiring an additional 503,694 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Cipher Mining by 52.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company's stock valued at $10,765,000 after acquiring an additional 1,610,073 shares during the period. Finally, Helix Partners Management LP lifted its holdings in Cipher Mining by 95.8% in the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company's stock valued at $10,120,000 after acquiring an additional 2,153,058 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Arete assumed coverage on Cipher Mining in a report on Wednesday. They issued a "buy" rating and a $24.00 price target for the company. Jones Trading assumed coverage on Cipher Mining in a report on Monday, July 21st. They set a "hold" rating for the company. Arete Research assumed coverage on Cipher Mining in a report on Wednesday. They set a "buy" rating and a $24.00 target price for the company. Compass Point assumed coverage on Cipher Mining in a report on Monday, September 15th. They set a "buy" rating for the company. Finally, Canaccord Genuity Group lifted their target price on Cipher Mining from $9.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $11.00.

Cipher Mining Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.