CoreWeave Inc. $CRWV Stock Position Decreased by Korea Investment CORP

Korea Investment CORP reduced its position in shares of CoreWeave Inc. (NASDAQ:CRWV) by 56.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Legal & General Group Plc lifted its stake in CoreWeave by 8,455.6% in the fourth quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock valued at $43,775,000 after acquiring an additional 604,156 shares during the last quarter. Bank of New York Mellon Corp grew its position in CoreWeave by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company’s stock worth $27,401,000 after acquiring an additional 39,599 shares in the last quarter. California State Teachers Retirement System grew its position in CoreWeave by 25.5% in the first quarter. California State Teachers Retirement System now owns 320,011 shares of the company’s stock worth $24,791,000 after acquiring an additional 64,960 shares in the last quarter. Finally, Ardmore Road Asset Management LP increased its stake in shares of CoreWeave by 3,410.0% during the 1st quarter. Ardmore Road Asset Management LP now owns 351,000 shares of the company’s stock worth $27,192,000 after purchasing an additional 341,000 shares during the last quarter.

CoreWeave Stock Down 1.8%

NASDAQ:CRWV opened at $86.25 on Tuesday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market cap of $39.58 billion, a PE ratio of -23.63 and a beta of 7.45. CoreWeave Inc. has a 52-week low of $60.55 and a 52-week high of $153.20. The stock has a 50-day simple moving average of $89.59 and a 200 day simple moving average of $94.76.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. The company had revenue of $2.58 billion during the quarter. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.The company’s revenue was up 112.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) EPS. On average, sell-side analysts expect that CoreWeave Inc. will post -5.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael N. Intrator sold 278,560 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $97.43, for a total value of $27,140,100.80. Following the completion of the sale, the chief executive officer owned 3,138,612 shares of the company’s stock, valued at approximately $305,794,967.16. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, Director Jack D. Cogen sold 642,307 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $106.32, for a total value of $68,290,080.24. Following the completion of the transaction, the director directly owned 9,040,829 shares in the company, valued at $961,220,939.28. This represents a 6.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,235,201 shares of company stock valued at $802,446,933 over the last quarter. 24.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRWV. Oppenheimer raised their target price on CoreWeave from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Barclays increased their price objective on CoreWeave from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Cantor Fitzgerald set a $176.00 target price on shares of CoreWeave and gave the company an “overweight” rating in a research note on Wednesday, August 12th. UBS Group restated an “underperform” rating on shares of CoreWeave in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Twenty-one equities 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.com, CoreWeave has an average rating of “Moderate Buy” and an average price target 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.