CoreWeave Inc. $CRWV Shares Bought by Saudi Central Bank

Saudi Central Bank lifted its holdings in shares of CoreWeave Inc. (NASDAQ:CRWV) by 119.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,040 shares of the company’s stock after buying an additional 10,381 shares during the period. Saudi Central Bank’s holdings in CoreWeave were worth $1,895,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CRWV. Pin Oak Investment Advisors Inc. acquired a new position in CoreWeave during the third quarter worth $34,000. Essential Partners LLC acquired a new stake in CoreWeave in the second quarter valued at $30,000. Burnham & Co LLC purchased a new stake in shares of CoreWeave during the 2nd quarter worth $32,000. Cullen Frost Bankers Inc. boosted its position in shares of CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares in the last quarter. Finally, Greenline Wealth Management LLC acquired a new position in shares of CoreWeave during the 4th quarter worth $28,000.

CoreWeave Price Performance

CoreWeave stock opened at $89.36 on Tuesday. CoreWeave Inc. has a 52 week low of $60.55 and a 52 week high of $153.20. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. The firm’s 50-day simple moving average is $85.20 and its 200 day simple moving average is $94.37. The firm has a market capitalization of $41.00 billion, a PE ratio of -24.48 and a beta of 7.45.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of CoreWeave from $142.00 to $159.00 and gave the company a “buy” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $153.00 target price (up from $151.00) on shares of CoreWeave in a report on Wednesday, August 12th. Cantor Fitzgerald set a $176.00 price target on shares of CoreWeave and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group lifted their price target on shares of CoreWeave from $121.00 to $139.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Twenty-one research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.90.

Insider Buying and Selling at CoreWeave

In other news, CFO Nitin Agrawal sold 5,509 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $88.64, for a total transaction of $488,317.76. Following the completion of the transaction, the chief financial officer directly owned 132,596 shares of the company’s stock, valued at $11,753,309.44. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 500 shares of CoreWeave 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 transaction, the insider owned 48,000 shares of the company’s stock, valued at $4,104,480. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,052,467 shares of company stock valued at $649,768,759 over the last three months. Company insiders own 24.20% of the company’s stock.

CoreWeave Company 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.