Lone Pine Capital 13F: New $702M Stake in Hut 8 (HUT)

Lone Pine Capital Establishes Fresh Position in Hut 8 Corp.

Lone Pine Capital filed its latest Form 13F with the Securities and Exchange Commission, showing a brand-new investment in Hut 8 Corp. (NasdaqGS: HUT). The fund picked up 6,078,951 shares during the period. Based on the cost basis provided, the stake carried an estimated value of $701.7 million at the time of the report. Because 13F filings look backward at holdings from the close of the quarter, this disclosure shows the position as of that date and may not reflect the fund's current holdings today.

Hut 8 Stock Performance and Market Context

Shares of Hut 8 trade near $115.44. The company has experienced strong momentum over the past year, trading far above its 200-day moving average of $81.82 and well past its 52-week low of $31.67. This upward run brings the company's market capitalization near $9.38 billion. Investors should note that the firm carries a forward P/E ratio that isn't meaningful due to negative earnings per share of $5.42.

Insider Buying and Selling at Hut 8 Corp.

Company insiders have transacted in company shares recently. On June 17, 2026, chief legal officer Victor Semah parted with 10,000 shares at an average price of $125.00, totaling $1.25 million. Days earlier on June 12, 2026, insider Joseph Flinn disposed of 7,719 shares at an average price of $117.91 for a total of $910,161.96. Insider transactions of this nature are common and do not automatically signal a directional shift for the equity.

Wall Street Analyst Views on Hut 8

Financial firms have actively adjusted their coverage on the stock through late summer and autumn. On October 16, 2026, Cantor Fitzgerald kept an overweight rating while adjusting its target from $180.00 to $151.00. Morgan Stanley maintained its overweight rating on October 12, 2026, pushing its target from $273.00 to $275.00. Canaccord Genuity maintained a buy rating with a $130.00 target on October 7, 2026. Earlier, UBS initiated coverage on September 23, 2026, with a buy rating and a $143.00 target, while Rothschild & Co started coverage on September 21, 2026, with a neutral rating and a $96.00 target. Wells Fargo initiated coverage on September 17, 2026, with an overweight rating and a $175.00 target. Piper Sandler held an overweight rating on August 6, 2026, with a target of $143.00, and Keefe, Bruyette & Woods kept an outperform rating with a $154.00 target on the same day. Overall, the stock commands a strong buy consensus with a mean price target of $154.04 across 23 analyst opinions.

Inside Hut 8 Corp.

Hut 8 Corp. operates as an energy infrastructure platform in the United States and Canada, integrating power generation with digital infrastructure, compute hosting, and artificial intelligence cloud services. The company designs, builds, and manages power facilities, alongside running its own digital asset mining operations. Large investments from institutional funds like Lone Pine Capital highlight growing interest in specialized compute and energy infrastructure assets.

What to Watch at Hut 8 Corp.

Market participants will look ahead to the company's upcoming earnings release scheduled for November 4, 2026. Future regulatory filings will reveal whether Lone Pine Capital builds upon its newly established stake or adjusts its exposure as market conditions shift.