Neuberger Berman Group LLC Has $17.84 Million Stock Position in CoreWeave Inc. $CRWV

Neuberger Berman Group LLC lowered its stake in CoreWeave Inc. (NASDAQ:CRWV) by 92.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 109,425 shares of the company’s stock after selling 1,369,725 shares during the quarter. Neuberger Berman Group LLC’s holdings in CoreWeave were worth $17,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Chelsea Counsel Co. bought a new stake in CoreWeave in the 2nd quarter valued at about $33,000. Archer Investment Corp acquired a new stake in CoreWeave in the second quarter valued at approximately $34,000. Chilton Capital Management LLC bought a new stake in shares of CoreWeave during the second quarter valued at approximately $39,000. Montag A & Associates Inc. bought a new position in shares of CoreWeave in the 2nd quarter worth $49,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in CoreWeave in the 2nd quarter valued at $47,000.

CoreWeave Price Performance

NASDAQ CRWV opened at $78.59 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The company has a market cap of $30.37 billion and a PE ratio of -54.20. CoreWeave Inc. has a 52 week low of $33.51 and a 52 week high of $187.00. The firm’s 50-day simple moving average is $105.11 and its two-hundred day simple moving average is $119.92.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. The business’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period last year, the firm earned ($1.82) EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of CoreWeave to a “hold” rating in a report on Monday, September 15th. Macquarie cut their price target on CoreWeave from $140.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $174.00 price objective on shares of CoreWeave in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $110.00 target price on shares of CoreWeave in a research report on Tuesday, November 11th. Finally, The Goldman Sachs Group cut their price objective on shares of CoreWeave from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, CoreWeave presently has a consensus rating of “Hold” and an average target price of $129.47.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, insider Brannin Mcbee sold 102,835 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $83.80, for a total transaction of $8,617,573.00. Following the sale, the insider owned 185,181 shares in the company, valued at $15,518,167.80. This represents a 35.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian M. Venturo sold 281,250 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $87.75, for a total value of $24,679,687.50. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,413,304 shares of company stock worth $3,733,727,007.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.