Swedbank AB Acquires New Position in CoreWeave Inc. $CRWV

Swedbank AB acquired a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) during the 4th quarter, Holdings Channel reports. The fund acquired 13,476 shares of the company’s stock, valued at approximately $965,000.

Several other institutional investors and hedge funds have also modified their holdings of CRWV. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave during the second quarter valued at approximately $39,824,000. Quantbot Technologies LP purchased a new position in CoreWeave during the second quarter worth approximately $311,000. Invesco Ltd. purchased a new position in CoreWeave during the second quarter worth approximately $882,000. First Trust Advisors LP purchased a new position in CoreWeave during the second quarter worth approximately $20,260,000. Finally, Baird Financial Group Inc. purchased a new position in CoreWeave during the second quarter worth approximately $455,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRWV shares. JPMorgan Chase & Co. increased their price target on shares of CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Sanford C. Bernstein increased their price target on shares of CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 14th. Oppenheimer increased their price target on shares of CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their price target on shares of CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $180.00 price target on shares of CoreWeave in a research note on Friday, February 27th. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CoreWeave has an average rating of “Moderate Buy” and a consensus target price of $129.63.

Insider Buying and Selling

In other news, insider Brian M. Venturo sold 5,887 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $99.82, for a total value of $587,640.34. Following the completion of the sale, the insider owned 229,079 shares of the company’s stock, valued at $22,866,665.78. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 3,683 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.82, for a total transaction of $367,637.06. Following the completion of the sale, the insider directly owned 318,086 shares of the company’s stock, valued at $31,751,344.52. The trade was a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 25,131,946 shares of company stock valued at $2,816,089,734.

CoreWeave Price Performance

CoreWeave stock opened at $104.27 on Thursday. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $187.00. The firm has a fifty day moving average of $101.60 and a 200-day moving average of $90.47. The firm has a market capitalization of $46.67 billion, a P/E ratio of -33.53 and a beta of 7.84. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The business had revenue of $1.57 billion during the quarter. The firm’s revenue for the quarter was up 110.4% on a year-over-year basis. As a group, analysts predict that CoreWeave Inc. will post -4.58 EPS for the current year.

CoreWeave Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.