Thoroughbred Financial Services LLC Increases Holdings in CoreWeave Inc. $CRWV

Thoroughbred Financial Services LLC raised its stake in CoreWeave Inc. (NASDAQ:CRWV) by 294.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,399 shares of the company’s stock after buying 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 institutional investors have also modified their holdings of the company. Cisco Systems Inc. acquired a new stake in CoreWeave during the second quarter worth about $173,493,000. Geode Capital Management LLC raised its position in CoreWeave by 142.6% in the second quarter. Geode Capital Management LLC now owns 716,178 shares of the company’s stock valued at $116,809,000 after purchasing an additional 420,915 shares during the period. Lmdagg L.L.C. acquired a new position in shares of CoreWeave in the 2nd quarter valued at $48,030,000. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave during the 2nd quarter worth $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of CoreWeave during the 2nd quarter worth $34,284,000.

Wall Street Analysts Forecast Growth

CRWV has been the topic of a number of research analyst reports. Citizens Jmp raised shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Tuesday, September 16th. Northland Securities boosted their price objective on CoreWeave from $85.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, July 18th. JMP Securities raised CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 target price for the company in a research report on Tuesday, September 16th. Wells Fargo & Company cut their target price on shares of CoreWeave from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Macquarie dropped their price target on shares of CoreWeave from $140.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.62.

Insider Transactions at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of CoreWeave stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $125.60, for a total value of $182,253,512.80. Following the sale, the insider owned 363,631 shares of the company’s stock, valued at approximately $45,672,053.60. The trade was a 79.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $94.69, for a total value of $105,295,658.76. Following the completion of the sale, the director owned 12,329,676 shares in the company, valued at approximately $1,167,497,020.44. This trade represents a 8.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 35,123,035 shares of company stock worth $4,426,625,546.

CoreWeave Price Performance

Shares of NASDAQ:CRWV opened at $77.36 on Friday. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00. The firm has a market capitalization of $37.80 billion and a P/E ratio of -67.86. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52. The company’s fifty day moving average price is $122.82 and its 200 day moving average price is $118.56.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned ($1.82) EPS. The company’s quarterly revenue was up 133.7% on a year-over-year basis. CoreWeave has set its FY 2025 guidance at EPS.

CoreWeave Company Profile

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.