On October 15, 2024, Patrick Kelly, Co-President and Chief Operating Officer of Cipher Mining Inc (CIFR, Financial), executed a significant transaction by selling 89,742 shares of the company. The sale was documented in a recent SEC Filing. Following this transaction, the insider now owns 717,431 shares of Cipher Mining Inc.
Cipher Mining Inc specializes in cryptocurrency mining operations in the United States, aiming to enhance the security and infrastructure of the Bitcoin network.
The shares were sold at a price of $4.37 each, placing the total value of the transaction at approximately $392,213.34. This sale has adjusted the insider's stake in the company significantly.
Over the past year, the insider transaction history at Cipher Mining Inc shows a trend of more sales than purchases among insiders. There have been 15 insider sales and no insider buys. Specifically, Patrick Kelly has sold a total of 89,742 shares and has not purchased any shares in the past year.
The current market cap of Cipher Mining Inc is approximately $1.616 billion. The stock's price-earnings ratio stands at 80.33, which is significantly higher than both the industry median of 19.33 and the company’s historical median.
This insider sale might interest investors who track insider behaviors as an indicator of confidence levels regarding the company's current valuation and future prospects. For more detailed valuation metrics such as GF Value, price-sales ratio, price-book ratio, and price-to-free cash flow, interested parties are encouraged to visit the respective links.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
