Jones Financial Companies Lllp Buys 37,104 Shares of CoreWeave Inc. $CRWV

Jones Financial Companies Lllp lifted its stake in shares of CoreWeave Inc. (NASDAQ:CRWV) by 33.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 149,241 shares of the company’s stock after buying an additional 37,104 shares during the quarter. Jones Financial Companies Lllp’s holdings in CoreWeave were worth $14,414,000 as of its most recent filing with the Securities & Exchange Commission.

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

CoreWeave Stock Down 1.8%

Shares of NASDAQ:CRWV opened at $86.25 on Tuesday. The business’s 50 day moving average is $89.59 and its 200 day moving average is $94.76. The stock has a market cap of $39.58 billion, a P/E 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 company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.52) by $0.38. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.The business had revenue of $2.58 billion during the quarter. During the same quarter in the prior year, the company posted ($0.27) earnings per share. CoreWeave’s quarterly revenue was up 112.5% compared to the same quarter last year. Sell-side analysts predict that CoreWeave Inc. will post -5.17 EPS for the current year.

Insider Activity

In related news, major shareholder Magnetar Financial Llc sold 307,131 shares of CoreWeave stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.75, for a total transaction of $33,400,496.25. Following the completion of the transaction, the insider directly owned 220,810 shares in the company, valued at approximately $24,013,087.50. This trade represents a 58.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael N. Intrator sold 278,560 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $97.43, for a total value of $27,140,100.80. Following the completion of the transaction, the chief executive officer directly owned 3,138,612 shares of the company’s stock, valued at $305,794,967.16. The trade was a 8.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold a total of 8,235,201 shares of company stock valued at $802,446,933 in the last quarter. 24.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRWV shares. Barclays upped their price target on CoreWeave from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of CoreWeave from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. DA Davidson reissued a “neutral” rating and set a $100.00 price target (down from $175.00) on shares of CoreWeave in a research note on Monday, May 18th. Jefferies Financial Group lowered CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Roth Capital set a $145.00 price target on CoreWeave in a research report on Thursday, August 13th. Twenty-one research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.90.

About CoreWeave

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.