Korea Investment CORP Lowers Holdings in CoreWeave Inc. $CRWV

Korea Investment CORP reduced its holdings in CoreWeave Inc. (NASDAQ:CRWV) by 56.3% during the second quarter, Holdings Channel.com reports. The fund owned 75,330 shares of the company’s stock after selling 97,094 shares during the quarter. Korea Investment CORP’s holdings in CoreWeave were worth $7,498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cornerstone Planning Group LLC increased its position in shares of CoreWeave by 272.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in 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 last quarter. Greenline Wealth Management LLC purchased a new position in CoreWeave in the 4th quarter worth approximately $28,000. Essential Partners LLC bought a new position in shares of CoreWeave in the 2nd quarter worth $30,000. Finally, Peterson Wealth Services increased its holdings in shares of CoreWeave by 153.1% in the 1st quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after buying an additional 245 shares during the last quarter.

Insiders Place Their Bets

In other CoreWeave news, CEO Michael N. Intrator sold 13,129 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $91.88, for a total value of $1,206,292.52. Following the transaction, the chief executive officer owned 1,687,129 shares of the company’s stock, valued at approximately $155,013,412.52. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 3,610 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $91.88, for a total transaction of $331,686.80. Following the completion of the transaction, the insider owned 327,691 shares in the company, valued at $30,108,249.08. The trade was a 1.09% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 8,235,201 shares of company stock worth $802,446,933. 24.20% of the stock is owned by corporate insiders.

CoreWeave Price Performance

CRWV stock opened at $86.25 on Tuesday. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. CoreWeave Inc. has a 1 year low of $60.55 and a 1 year high of $153.20. The firm has a 50-day moving average of $89.59 and a 200 day moving average of $94.76. The company has a market cap of $39.58 billion, a P/E ratio of -23.63 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. The business 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 for the quarter was up 112.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.27) EPS. On average, sell-side analysts forecast that CoreWeave Inc. will post -5.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRWV shares. DA Davidson reissued a “neutral” rating and set a $100.00 price objective (down from $175.00) on shares of CoreWeave in a report on Monday, May 18th. Weiss Ratings raised CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Citigroup increased their price target on shares of CoreWeave from $142.00 to $159.00 and gave the company a “buy” rating in a research report on Friday, August 14th. BTIG Research initiated coverage on shares of CoreWeave in a research note on Wednesday, July 22nd. They set a “buy” rating on the stock. Finally, Robert W. Baird boosted their price objective on shares of CoreWeave from $100.00 to $130.00 and gave the stock an “outperform” rating in a report 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.90.

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.