Connor, Clark & Lunn Investment Management 13F: Adds $6.6M to CIFR Stake

Connor, Clark & Lunn Investment Management has increased its stake in Cipher Digital Inc. (NasdaqGS: CIFR) by 233,611 shares. This move, reported in a recent SEC filing, brings the firm's total holdings to about 2.65 million shares, valued at approximately $73.5 million. This represents a 9.67% boost in their position as of the latest reporting period.

What Changed in Connor, Clark & Lunn's Cipher Digital Position

Connor, Clark & Lunn previously held 2,415,784 shares in Cipher Digital. With the addition of 233,611 shares, their holdings now total 2,649,395 shares. This increase suggests a growing confidence in Cipher Digital's potential, as the investment now amounts to a value of roughly $73.5 million.

Other Institutional Activity in Cipher Digital

Among other institutional investors, BlackRock, Inc. increased its position by 307,789 shares, bringing its total to 28,462,858 shares, worth about $366.3 million. Vanguard Portfolio Management LLC made a significant addition, acquiring 22,310,297 shares to reach the same number, valued at $287.1 million. D. E. Shaw & Co., Inc. also grew its holdings by 1,000,518 shares to 16,388,535 shares, valued at approximately $210.9 million. Conversely, Jane Street Group, LLC reduced its holdings by 4,992,701 shares, now holding 11,428,614 shares, valued at around $147.1 million.

Cipher Digital Inc. Stock Up 182.9%

Shares of Cipher Digital Inc. (NasdaqGS: CIFR) are trading close to $27.75. The company has a market capitalization of about $11.94 billion and a forward P/E ratio of 43.55, indicating high growth expectations. The stock shows considerable volatility with a beta of 3.203. Over the past year, its stock price has ranged from $3.29 to $30.01. The 50-day moving average stands at $21.14, while the 200-day moving average is $17.21.

Recent Earnings

Cipher Digital reported revenue of $209.8 million, though it experienced a revenue decline of 28.8%. The company posted a negative EPS of -2.32, indicating it is not currently profitable. The return on equity is also negative at -121.73%. The next earnings report is scheduled for August 6, 2026.

Insider Buying and Selling at Cipher Digital Inc.

Several insiders have made significant transactions recently. CEO Tyler Page sold 170,168 shares on June 16, 2026, at $26.03 per share. Co-President and CLO William Iwaschuk sold 92,167 shares on the same day at the same price. Additionally, Tyler Page acquired 333,334 shares on June 14, 2026, in a purchase transaction.

Analysts Set New Price Targets

Analysts remain optimistic about Cipher Digital. On June 4, 2026, Morgan Stanley maintained a 'buy' rating with a price target of $48.5. Jefferies initiated coverage with a 'buy' rating and a $32 target on May 14, 2026. The consensus among analysts is strong buy, with a mean price target of $32 based on 16 analyst opinions.

About Cipher Digital

Cipher Digital Inc., headquartered in New York, NY, develops and operates large-scale data centers for bitcoin mining and high-performance computing hosting. Founded in 2021, the company is led by CEO Rodney Tyler Page and employs 66 people. It focuses on creating data centers for hyperscaler tenants and operates power at a bitcoin mining data center.

Bottom Line

Connor, Clark & Lunn's increased position in Cipher Digital reflects a positive outlook for the company. However, investors should note that 13F filings are backward-looking and may not represent the current position. Cipher Digital's high P/E ratio and volatility suggest it's a company with high growth potential but also significant risk.