Morse Asset Management Inc Increases Stock Holdings in CoreWeave Inc. $CRWV

Morse Asset Management Inc grew its stake in shares of CoreWeave Inc. (NASDAQ:CRWV) by 9,489.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,589 shares of the company’s stock after purchasing an additional 9,489 shares during the quarter. Morse Asset Management Inc’s holdings in CoreWeave were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave in the 2nd quarter valued at $39,824,000. Envestnet Asset Management Inc. acquired a new stake in CoreWeave during the 2nd quarter worth $1,729,000. Bank of New York Mellon Corp purchased a new stake in CoreWeave in the second quarter valued at $12,600,000. Allworth Financial LP lifted its position in CoreWeave by 9,268.8% in the second quarter. Allworth Financial LP now owns 1,499 shares of the company’s stock valued at $244,000 after acquiring an additional 1,483 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in CoreWeave in the second quarter valued at $438,000.

CoreWeave Price Performance

Shares of NASDAQ:CRWV opened at $85.86 on Tuesday. CoreWeave Inc. has a one year low of $33.51 and a one year high of $187.00. The stock has a market capitalization of $35.98 billion and a price-to-earnings ratio of -26.83. The company has a 50-day simple moving average of $89.07 and a 200-day simple moving average of $98.14. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The company had revenue of $1.57 billion for the quarter. CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The business’s revenue for the quarter was up 110.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho dropped their price objective on CoreWeave from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised CoreWeave from a “hold” rating to a “buy” rating and upped their target price for the company from $100.00 to $140.00 in a research report on Tuesday, January 27th. Roth Mkm restated a “buy” rating on shares of CoreWeave in a research note on Monday, February 23rd. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of CoreWeave in a research report on Monday, March 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of CoreWeave in a research note on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.35.

Insider Activity at CoreWeave

In other CoreWeave news, CEO Michael N. Intrator sold 32,455 shares of CoreWeave stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $81.41, for a total value of $2,642,161.55. Following the transaction, the chief executive officer directly owned 5,698,957 shares in the company, valued at approximately $463,952,089.37. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brannin Mcbee sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $72.61, for a total value of $1,361,437.50. The disclosure for this sale is available in the SEC filing. Insiders sold 4,549,568 shares of company stock worth $384,597,724 in the last ninety days.

CoreWeave Company 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.