Kestra Advisory Services LLC Acquires 15,568 Shares of CoreWeave Inc. $CRWV

Kestra Advisory Services LLC boosted its holdings in shares of CoreWeave Inc. (NASDAQ:CRWV) by 48.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,559 shares of the company’s stock after purchasing an additional 15,568 shares during the quarter. Kestra Advisory Services LLC’s holdings in CoreWeave were worth $3,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Azzad Asset Management Inc. ADV increased its holdings in shares of CoreWeave by 2.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock worth $389,000 after purchasing an additional 104 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in CoreWeave by 34.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock valued at $33,000 after buying an additional 119 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of CoreWeave by 26.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 600 shares of the company’s stock worth $43,000 after acquiring an additional 125 shares during the last quarter. Finally, WPG Advisers LLC boosted its stake in shares of CoreWeave by 14.1% during the 1st quarter. WPG Advisers LLC now owns 1,159 shares of the company’s stock worth $90,000 after purchasing an additional 143 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their target price on CoreWeave from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Sanford C. Bernstein restated an “underperform” rating on shares of CoreWeave in a report on Thursday, June 11th. Mizuho decreased their price objective on CoreWeave from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial boosted their target price on shares of CoreWeave from $85.00 to $131.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.87.

CoreWeave Stock Up 0.4%

CRWV stock opened at $73.21 on Friday. CoreWeave Inc. has a 52 week low of $63.80 and a 52 week high of $153.20. The firm has a 50 day moving average of $100.38 and a 200 day moving average of $95.19. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $32.77 billion, a PE ratio of -23.54 and a beta of 7.17.

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

Insider Activity

In other CoreWeave news, insider Brannin Mcbee sold 53,000 shares of CoreWeave 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 Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,912 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total value of $6,690,574.88. Following the completion of the transaction, the insider directly owned 283,985 shares of the company’s stock, valued at approximately $24,703,855.15. This trade represents a 21.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,294,471 shares of company stock valued at $2,607,466,396 in the last ninety days. Insiders own 24.20% of the company’s stock.

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.