CoreWeave Inc. $CRWV Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in CoreWeave Inc. (NASDAQ:CRWV) by 71.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,905 shares of the company’s stock after purchasing an additional 7,894 shares during the quarter. Wealthfront Advisers LLC’s holdings in CoreWeave were worth $1,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the period. Cullen Frost Bankers Inc. grew its holdings in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 121 shares during the period. Greenline Wealth Management LLC acquired a new stake in CoreWeave during the fourth quarter worth about $28,000. Peterson Wealth Services raised its position in CoreWeave by 153.1% during the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock valued at $31,000 after acquiring an additional 245 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in CoreWeave in the fourth quarter valued at approximately $32,000.

Insider Buying and Selling

In other CoreWeave news, CEO Michael N. Intrator sold 61,797 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the completion of the transaction, the chief executive officer owned 2,876,815 shares of the company’s stock, valued at $250,110,296.10. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 53,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $86.13, for a total value of $4,564,890.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 19,885,161 shares of company stock worth $2,326,801,573. Insiders own 24.20% of the company’s stock.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $73.06 on Tuesday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $32.70 billion, a PE ratio of -23.49 and a beta of 7.17. CoreWeave Inc. has a fifty-two week low of $63.80 and a fifty-two week high of $153.20. The company has a fifty day moving average of $99.55 and a two-hundred day moving average of $95.33.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.60) EPS. As a group, research analysts forecast that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on CRWV shares. Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, March 24th. DA Davidson reissued a “neutral” rating and set a $100.00 price target (down from $175.00) on shares of CoreWeave in a report on Monday, May 18th. Sanford C. Bernstein restated an “underperform” rating on shares of CoreWeave in a research report on Thursday, June 11th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.87.

About CoreWeave

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.