1,228,027 Shares in CoreWeave Inc. $CRWV Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,228,027 shares of the company’s stock, valued at approximately $95,135,000. Jennison Associates LLC owned approximately 0.28% of CoreWeave at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cornerstone Planning Group LLC increased its stake in shares of CoreWeave by 272.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in 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 buying an additional 121 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in CoreWeave during the 4th quarter worth about $28,000. Peterson Wealth Services grew its holdings in CoreWeave by 153.1% during the 1st quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after acquiring an additional 245 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in CoreWeave during the 4th quarter worth about $32,000.

Insiders Place Their Bets

In other news, insider Brian M. Venturo sold 76,912 shares of CoreWeave stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total transaction of $6,690,574.88. Following the transaction, the insider directly owned 283,985 shares of the company’s stock, valued at $24,703,855.15. This trade represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, insider Brannin Mcbee sold 53,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $86.13, for a total transaction of $4,564,890.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,516,306 shares of company stock worth $2,400,874,625. Company insiders own 24.20% of the company’s stock.

CoreWeave Stock Performance

Shares of CRWV stock opened at $73.21 on Monday. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $32.77 billion, a PE ratio of -23.54 and a beta of 7.17. The stock has a 50-day moving average of $100.38 and a 200-day moving average of $95.33. CoreWeave Inc. has a one year low of $63.80 and a one year high of $153.20.

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

Analysts Set New Price Targets

CRWV has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. BNP Paribas Exane began coverage on shares of CoreWeave in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price target on the stock. Weiss Ratings raised shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Mizuho dropped their price objective on shares of CoreWeave from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Finally, DA Davidson reaffirmed 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. Twenty investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

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.