Susan B. McGee, a director at HIVE Digital Technologies Ltd. (NASDAQ:HIVE), has fully divested her position in the company by selling her remaining common shares across two distinct transactions in mid-June 2026. The total value of these sales amounted to $884,442. The transactions were executed at share prices of $4.24 and $4.25, respectively. This complete exit by a director is a notable development, particularly given that HIVE's stock has delivered a 151% return over the past year and currently trades at $4.89, a level above the prices at which McGee sold her holdings.
The first transaction occurred on June 17, 2026, when Ms. McGee disposed of 83,300 common shares. These shares were sold at a price of $4.24 per share. This U.S. dollar price was derived from a conversion of C$5.95 Canadian dollars per share, based on the Bank of Canada's exchange rate of U.S. $1.00 to C$1.4034 reported on that specific day.
Two days later, on June 19, 2026, Ms. McGee completed her exit by selling an additional 125,000 common shares. These final shares were sold at $4.25 per share, which was converted from C$6.00 Canadian dollars per share using the Bank of Canada's exchange rate of U.S. $1.00 to C$1.4131, as reported on June 18, 2026. Following these transactions, Ms. McGee no longer holds any direct ownership of common shares in HIVE Digital Technologies Ltd.
While insider ownership has shifted, HIVE Digital is actively pursuing significant operational milestones. The company announced a $220 million GPU cloud contract facilitated through its subsidiary, BUZZ High Performance Computing Inc. This agreement, signed with Bell Canada and Cohere Inc., integrates Bell AI Fabric's data center platform with BUZZ HPC's NVIDIA-accelerated GPU cloud infrastructure. Additionally, HIVE Digital received approval from the Boden Municipal Council to acquire the Big Boden 32 MW data center in Sweden. This acquisition marks a strategic transition for the company from a tenant to an owner of critical infrastructure assets.
Analyst firms have taken note of these operational developments, resulting in revised price targets for HIVE Digital shares. Keefe, Bruyette & Woods raised their price target from $3.00 to $5.00, while maintaining a Market Perform rating. The firm cited the company's progress toward achieving $200 million in cloud annual recurring revenue by the end of the year. Conversely, B.Riley increased their price target to $8.00, maintaining a Buy rating. B.Riley highlighted the expected growth in HIVE's BUZZ HPC business, anticipating it will reach $660 million in contracted annual recurring revenue by 2028. This projected growth is supported by the planned 320 megawatt GTA Gigafactory. These analyst actions reflect a divergence in valuation perspectives despite the company's strategic expansion.
According to InvestingPro analysis, the stock appears fairly valued at current levels. Investors seeking deeper insights can access 11 additional ProTips and comprehensive financial metrics on the platform. The company's stock performance is reflected in recent trading data, showing a closed price of 6.93 CAD, representing an increase of 0.31 (+4.68%).