Wealthfront Advisers LLC Grows Position in CoreWeave Inc. $CRWV

Wealthfront Advisers LLC grew its holdings in CoreWeave Inc. (NASDAQ:CRWV) by 71.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 18,905 shares of the company’s stock after buying an additional 7,894 shares during the quarter. Wealthfront Advisers LLC’s holdings in CoreWeave were worth $1,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sivia Capital Partners LLC purchased a new stake in CoreWeave during the 2nd quarter valued at about $39,824,000. Quantbot Technologies LP purchased a new position in CoreWeave in the 2nd quarter worth approximately $311,000. Invesco Ltd. acquired a new position in shares of CoreWeave during the 2nd quarter worth approximately $882,000. First Trust Advisors LP acquired a new position in shares of CoreWeave during the 2nd quarter worth approximately $20,260,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of CoreWeave in the second quarter valued at approximately $455,000.

CoreWeave Stock Down 0.2%

CoreWeave stock opened at $73.06 on Tuesday. The company has a market capitalization of $32.70 billion, a PE ratio of -23.49 and a beta of 7.17. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. CoreWeave Inc. has a fifty-two week low of $63.80 and a fifty-two week high of $153.20. The firm has a 50 day moving average price of $99.55 and a 200 day moving average price of $95.33.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $2.08 billion for the quarter. During the same quarter last year, the business earned ($0.60) EPS. The firm’s quarterly revenue was up 111.6% compared to the same quarter last year. Research analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRWV. Barclays increased their price target on CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Oppenheimer raised their target price on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Mizuho reduced their price target on CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Wolfe Research reissued an “outperform” rating on shares of CoreWeave in a research report on Monday, July 6th. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.87.

Insider Activity at CoreWeave

In related news, insider Brannin Mcbee sold 53,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $86.13, for a total transaction of $4,564,890.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 61,797 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total value of $5,372,631.18. Following the transaction, the chief executive officer owned 2,876,815 shares of the company’s stock, valued at $250,110,296.10. This trade represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 19,885,161 shares of company stock worth $2,326,801,573. 24.20% of the stock is currently owned by company 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.