HB Wealth Management LLC Invests $3.94 Million in CoreWeave Inc. $CRWV

HB Wealth Management LLC bought a new stake in CoreWeave Inc. (NASDAQ:CRWV) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 39,599 shares of the company’s stock, valued at approximately $3,942,000.

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new position in CoreWeave during the 3rd quarter worth approximately $34,000. Essential Partners LLC bought a new stake in CoreWeave in the second quarter valued at approximately $30,000. Burnham & Co LLC purchased a new stake in shares of CoreWeave during the second quarter valued at approximately $32,000. Cullen Frost Bankers Inc. boosted its stake in shares of CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares during the period. Finally, Greenline Wealth Management LLC bought a new position in shares of CoreWeave in the fourth quarter worth approximately $28,000.

CoreWeave Price Performance

Shares of NASDAQ CRWV opened at $89.36 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53. CoreWeave Inc. has a 12 month low of $60.55 and a 12 month high of $153.20. The firm has a market capitalization of $41.00 billion, a PE ratio of -24.48 and a beta of 7.45. The firm has a fifty day simple moving average of $85.20 and a two-hundred day simple moving average of $94.37.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The firm had revenue of $2.58 billion for the quarter. During the same period in the previous year, the firm posted ($0.27) EPS. The company’s revenue for the quarter was up 112.5% on a year-over-year basis. Equities analysts expect that CoreWeave Inc. will post -5.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CRWV shares. BNP Paribas Exane assumed coverage on shares of CoreWeave in a report on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price target for the company. Sanford C. Bernstein boosted their price objective on shares of CoreWeave from $67.00 to $74.00 and gave the company an “underperform” rating in a research report on Wednesday, August 12th. Raymond James Financial downgraded shares of CoreWeave from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Wolfe Research reiterated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Finally, Robert W. Baird raised their target price on CoreWeave from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Twenty-one research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.90.

Insider Activity at CoreWeave

In other news, CEO Michael Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.66, for a total value of $16,332,000.00. Following the completion of the transaction, the chief executive officer owned 1,287,129 shares of the company’s stock, valued at approximately $105,106,954.14. This represents a 13.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 500 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $85.51, for a total value of $42,755.00. Following the completion of the transaction, the insider directly owned 48,000 shares of the company’s stock, valued at $4,104,480. This represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,052,467 shares of company stock valued at $649,768,759. 24.20% of the stock is currently owned by corporate insiders.

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.