Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells 466,915 Shares of Stock

Posted by Adam Dyson on Jun 26th, 2024

Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 466,915 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $4.30, for a total value of $2,007,734.50. Following the transaction, the insider now owns 111,489,712 shares in the company, valued at $479,405,761.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Top Holdco B.V. Bitfury also recently made the following trade(s):

On Monday, June 24th, Top Holdco B.V. Bitfury sold 443,830 shares of Cipher Mining stock. The stock was sold at an average price of $4.33, for a total value of $1,921,783.90.
On Thursday, June 20th, Top Holdco B.V. Bitfury sold 394,357 shares of Cipher Mining stock. The stock was sold at an average price of $5.54, for a total value of $2,184,737.78.
On Monday, June 17th, Top Holdco B.V. Bitfury sold 376,320 shares of Cipher Mining stock. The stock was sold at an average price of $4.82, for a total value of $1,813,862.40.
On Friday, June 14th, Top Holdco B.V. Bitfury sold 366,042 shares of Cipher Mining stock. The stock was sold at an average price of $5.00, for a total value of $1,830,210.00.
On Wednesday, June 12th, Top Holdco B.V. Bitfury sold 336,377 shares of Cipher Mining stock. The stock was sold at an average price of $4.58, for a total value of $1,540,606.66.
On Monday, June 10th, Top Holdco B.V. Bitfury sold 319,747 shares of Cipher Mining stock. The stock was sold at an average price of $4.21, for a total value of $1,346,134.87.
On Wednesday, June 5th, Top Holdco B.V. Bitfury sold 299,953 shares of Cipher Mining stock. The stock was sold at an average price of $3.91, for a total value of $1,172,816.23.
On Monday, June 3rd, Top Holdco B.V. Bitfury sold 308,973 shares of Cipher Mining stock. The stock was sold at an average price of $3.72, for a total value of $1,149,379.56.
On Thursday, May 30th, Top Holdco B.V. Bitfury sold 298,778 shares of Cipher Mining stock. The stock was sold at an average price of $3.73, for a total value of $1,114,441.94.
On Tuesday, May 28th, Top Holdco B.V. Bitfury sold 296,357 shares of Cipher Mining stock. The shares were sold at an average price of $3.99, for a total value of $1,182,464.43.

Cipher Mining Stock Down 0.7 %

Shares of Cipher Mining stock traded down $0.03 on Wednesday, reaching $4.21. The company’s stock had a trading volume of 9,883,898 shares, compared to its average volume of 8,626,865. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 70.18 and a beta of 2.28. The firm’s fifty day simple moving average is $4.18 and its two-hundred day simple moving average is $3.80. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $5.89. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR – Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. The company had revenue of $48.14 million during the quarter, compared to analyst estimates of $50.05 million.

Institutional Trading of Cipher Mining

Several large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the period. Sloy Dahl & Holst LLC bought a new stake in Cipher Mining during the fourth quarter valued at about $44,000. Wolverine Asset Management LLC bought a new stake in Cipher Mining during the fourth quarter valued at about $49,000. Bellecapital International Ltd. bought a new stake in Cipher Mining during the fourth quarter valued at about $51,000. Finally, Calamos Advisors LLC bought a new stake in Cipher Mining during the fourth quarter valued at about $52,000. Institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Cipher Mining in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 target price for the company. HC Wainwright lifted their price objective on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $6.00 price objective (up previously from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research note on Friday, June 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Read Our Latest Report on CIFR

About Cipher Mining

(Get Free Report)

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.