Dave Perrill, serving as a Director at HIVE Digital Technologies Ltd. (NASDAQ:HIVE), has completed the liquidation of his direct equity holdings in the company. The transaction involved the sale of 175,000 common shares, generating proceeds of approximately $820,750. This disposal was executed on June 19, 2026, following a prior conversion of restricted stock units into common stock earlier in the month.
The 175,000 shares were divested at a weighted average price of $4.69 per share. Regulatory filings indicate that these shares were sold across multiple transactions, with execution prices ranging from C$6.589 to C$6.660. The weighted average Canadian price of C$6.639 was converted to approximately USD$4.57, utilizing an exchange rate of USD$1.00 = C$0.705 on June 19, 2026. This conversion rate is critical for understanding the valuation of the transaction in US dollar terms.
The timing of this sale is notable given the stock's recent performance. HIVE shares have appreciated by 177% over the past year. At the time of the sale, the stock was trading at $4.63. Independent analysis from InvestingPro suggests that the stock is currently overvalued relative to its Fair Value. The sale occurs just days before the company is scheduled to report earnings on June 26, 2026. InvestingPro subscribers have access to 11 additional exclusive tips about HIVE’s performance and valuation.
Prior to the liquidation, on May 7, 2026, Mr. Perrill acquired a total of 112,500 common shares through the settlement of restricted stock units at no cost. This acquisition included 100,000 shares from RSUs awarded on April 17, 2025, which vested on April 17, 2026, and 12,500 shares from RSUs awarded on November 5, 2024, which vested on May 5, 2026. Both sets of RSUs were settled and converted into common shares on May 7, 2026, in accordance with the Issuer’s RSU Plan.
Following the sale, Mr. Perrill holds no common shares directly in HIVE Digital Technologies Ltd. He continues to hold 325,000 unvested restricted stock units, with various vesting schedules extending to March 2027, as detailed in the filing’s footnotes. The retention of these unvested units indicates continued alignment with the company's long-term performance metrics, though the direct equity stake has been eliminated.
In other recent news, HIVE Digital Technologies Ltd. has announced significant developments that have caught the attention of investors. The company has secured a $220 million GPU cloud contract through its subsidiary, BUZZ High Performance Computing Inc., in collaboration with Bell Canada and Cohere Inc. This contract is set to enhance HIVE’s cloud infrastructure capabilities. Additionally, HIVE Digital has received approval from the Boden Municipal Council to acquire the Big Boden 32 MW data center in Sweden, transitioning from a tenant to the owner of the facility.
Analyst firms have also reacted to these developments. Keefe, Bruyette & Woods has raised its price target for HIVE Digital shares to $5.00, emphasizing the potential for cloud growth and the company’s progress toward achieving $200 million in annual recurring cloud revenue by the end of the year. Meanwhile, B.Riley has increased its price target to $8.00, highlighting the growth outlook of HIVE’s BUZZ HPC business, which is expected to reach $660 million in annual recurring revenue by 2028. These recent advancements reflect HIVE Digital’s strategic moves in expanding its data center operations and cloud services.
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