Steadview Capital Management LLC Has $19.83 Million Holdings in Hut 8 Corp. $HUT

Steadview Capital Management LLC raised its holdings in Hut 8 Corp. (NASDAQ:HUT) by 1,425.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 431,655 shares of the company’s stock after purchasing an additional 403,355 shares during the quarter. Hut 8 makes up about 3.7% of Steadview Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Steadview Capital Management LLC’s holdings in Hut 8 were worth $19,830,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. raised its position in Hut 8 by 75.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock valued at $2,962,000 after purchasing an additional 36,543 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in Hut 8 by 26.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company’s stock valued at $4,564,000 after purchasing an additional 27,568 shares during the last quarter. Zweig DiMenna Associates LLC raised its position in Hut 8 by 256.5% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock valued at $24,611,000 after purchasing an additional 508,700 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Hut 8 in the 3rd quarter valued at $1,385,000. Institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling

In related news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company’s stock, valued at $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director directly owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,628 shares of company stock valued at $4,960,721 over the last three months. Company insiders own 10.40% of the company’s stock.

Hut 8 Stock Up 0.6%

Shares of Hut 8 stock opened at $105.90 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12 month low of $14.74 and a 12 month high of $112.26. The business has a fifty day simple moving average of $71.87 and a 200 day simple moving average of $57.44. The stock has a market cap of $11.92 billion, a PE ratio of -35.30 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The company had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Research analysts predict that Hut 8 Corp. will post -1.17 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BTIG Research lifted their price objective on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research report on Tuesday, January 27th. Citizens Jmp boosted their target price on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Seventeen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Company Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.