Thoroughbred Financial Services LLC Boosts Position in CoreWeave Inc. $CRWV

by · The Cerbat Gem

Thoroughbred Financial Services LLC raised its stake in CoreWeave Inc. (NASDAQ:CRWV – Free Report) by 294.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,399 shares of the company’s stock after purchasing an additional 22,686 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in CoreWeave were worth $4,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chelsea Counsel Co. acquired a new stake in shares of CoreWeave in the second quarter valued at about $33,000. Chilton Capital Management LLC acquired a new position in CoreWeave during the 2nd quarter worth approximately $39,000. Montag A & Associates Inc. purchased a new position in CoreWeave in the 2nd quarter worth approximately $49,000. SOA Wealth Advisors LLC. grew its position in CoreWeave by 275.0% in the second quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company’s stock valued at $61,000 after acquiring an additional 275 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in CoreWeave in the second quarter valued at approximately $61,000.

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 7,688 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $134.94, for a total transaction of $1,037,418.72. Following the completion of the sale, the insider directly owned 299,512 shares of the company’s stock, valued at approximately $40,416,149.28. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael N. Intrator sold 32,455 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the sale, the chief executive officer owned 6,991,055 shares of the company’s stock, valued at $796,770,538.35. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,123,035 shares of company stock valued at $4,426,625,546 over the last ninety days.

CoreWeave Trading Down 1.3%

NASDAQ:CRWV opened at $77.36 on Friday. CoreWeave Inc. has a 1 year low of $33.51 and a 1 year high of $187.00. The stock has a market cap of $37.80 billion and a price-to-earnings ratio of -67.86. The business has a fifty day moving average of $122.82 and a 200-day moving average of $118.56. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52.

CoreWeave (NASDAQ:CRWV – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business posted ($1.82) earnings per share. The business’s revenue for the quarter was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRWV. Evercore ISI decreased their price objective on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday. Northland Securities boosted their price target on CoreWeave from $85.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Citigroup raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, July 31st. Arete Research raised shares of CoreWeave from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Finally, Jefferies Financial Group lowered their price target on CoreWeave from $180.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.62.

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About CoreWeave

(Free Report)

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.

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