First Trust Advisors LP trimmed its position in shares of CoreWeave Inc. (NASDAQ:CRWV – Free Report) by 23.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,743,997 shares of the company’s stock after selling 541,996 shares during the quarter. First Trust Advisors LP’s holdings in CoreWeave were worth $135,107,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new position in shares of CoreWeave in the third quarter valued at approximately $34,000. Cornerstone Planning Group LLC grew its position in CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in CoreWeave during the 4th quarter valued at $28,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in CoreWeave in the 1st quarter valued at $31,000.
Analyst Ratings Changes
CRWV has been the topic of a number of recent analyst reports. Mizuho reduced their price objective on CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Jefferies Financial Group lowered CoreWeave from a “buy” rating to a “hold” rating in a research note on Wednesday. Cantor Fitzgerald began coverage on CoreWeave in a report on Wednesday. They issued an “overweight” rating for the company. DA Davidson reiterated a “neutral” rating and set a $100.00 price target (down from $175.00) on shares of CoreWeave in a research report on Monday, May 18th. Finally, Raymond James Financial lowered shares of CoreWeave from a “moderate buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CoreWeave currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.
CoreWeave Stock Down 1.9%
Shares of CoreWeave stock opened at $81.10 on Friday. 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 Inc. has a 12 month low of $63.80 and a 12 month high of $153.20. The stock has a market cap of $36.30 billion, a PE ratio of -26.08 and a beta of 7.17. The business has a fifty day simple moving average of $97.75 and a 200 day simple moving average of $95.47.
CoreWeave (NASDAQ:CRWV – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $2.08 billion during the quarter. During the same quarter in the prior year, the company posted ($0.60) earnings per share. The business’s revenue was up 111.6% compared to the same quarter last year. Research analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.
Key CoreWeave News
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: Truist upgraded CoreWeave (CRWV) to Buy, helping drive the shares higher as investors responded to renewed confidence in the company’s AI cloud growth story. CoreWeave Jumps 6% on Truist Buy Upgrade, Pulling Ahead of Cloudflare, Snowflake, Oracle
- Positive Sentiment: Robert W. Baird upgraded CoreWeave (CRWV) to Strong-Buy, reinforcing the bullish view that the company remains a standout “pioneer” in AI infrastructure. CoreWeave was upgraded by Robert W. Baird to strong-buy
- Positive Sentiment: Analysts highlighted CoreWeave’s rapid growth profile, including expectations for strong Q2 revenue expansion and heavy power buildout to support AI demand, which supports the stock’s premium valuation. CoreWeave (CRWV) Is Chasing 108% Q2 Revenue Growth With A Big Power Ramp
- Neutral Sentiment: Barclays reportedly lowered its expectations for CoreWeave (CRWV), which may temper some of the enthusiasm around the stock despite the broader wave of positive ratings. Barclays Has Lowered Expectations for CoreWeave (NASDAQ:CRWV) Stock Price
- Negative Sentiment: News that CoreWeave’s CFO sold $5.5 million of company shares could raise investor concerns about insider confidence, even though it does not necessarily change the business outlook. CoreWeave’s CFO Sold Company Shares for $5.5 Million. What Does That Mean for Investors?
Insiders Place Their Bets
In other news, major shareholder Magnetar Financial Llc sold 1,284,876 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $119.91, for a total transaction of $154,069,481.16. Following the sale, the insider owned 264,061 shares in the company, valued at $31,663,554.51. This represents a 82.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian M. Venturo sold 375,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $109.03, for a total value of $40,886,250.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,070,099 shares of company stock valued at $1,982,943,238 in the last 90 days. 24.20% of the stock is currently owned by insiders.
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.
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