Drive Wealth Management LLC disclosed in its latest SEC filing that it sold 32,424 shares of IREN Limited during the third quarter, reducing its holdings by 79.2%. The institutional investor now owns 8,500 shares, with the remaining position valued at approximately $399,000 at quarter-end. This dramatic downsizing marks one of the largest single adjustments among disclosed holders and signals a noteworthy shift in institutional sentiment toward IREN during the period.

Several mid‐sized investors initiated or expanded positions in IREN over the same period. Global Retirement Partners LLC entered with a new stake valued at $25,000. Advisors Asset Management Inc. increased its share count by 68.4%, acquiring an additional 1,839 shares to reach 4,528 shares (worth $66,000). Vermillion Wealth Management Inc. and SLT Holdings LLC established new positions valued at roughly $74,000 and $146,000, respectively. Foundations Investment Advisors LLC also initiated a $146,000 position. Collectively, these moves reflect mixed conviction among institutional participants.

As of the latest filings, institutional investors and hedge funds hold 41.08% of IREN’s outstanding stock. The company reported third-quarter revenue of $240.3 million, up 28.3% year-over-year, though it missed consensus revenue estimates by approximately $4.3 million. IREN recorded a net margin of 86.96% but reported a negative return on equity of 3.6%. Analysts forecast full-year earnings per share of around 0.43. Recent research notes include upgrades to a "hold" rating by Wall Street Zen and raised outperformance and buy ratings from Macquarie, Roth MKM, UBS and BTIG, contributing to an average price target near $69.36.