Ritholtz Wealth Management Increases Stake in CoreWeave Inc. $CRWV

Ritholtz Wealth Management boosted its holdings in shares of CoreWeave Inc. (NASDAQ:CRWV) by 54.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,899 shares of the company’s stock after buying an additional 9,790 shares during the quarter. Ritholtz Wealth Management’s holdings in CoreWeave were worth $2,161,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CRWV. Sivia Capital Partners LLC purchased a new stake in shares of CoreWeave during the second quarter worth $39,824,000. Quantbot Technologies LP acquired a new stake in shares of CoreWeave in the second quarter valued at $311,000. Invesco Ltd. purchased a new position in CoreWeave in the second quarter valued at $882,000. First Trust Advisors LP purchased a new position in CoreWeave in the second quarter valued at $20,260,000. Finally, Baird Financial Group Inc. acquired a new position in CoreWeave during the 2nd quarter worth $455,000.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $250 price target, reinforcing the bullish view that CoreWeave could benefit from rising demand for AI infrastructure. Read More
• Positive Sentiment: BNP Paribas and other reports highlighted CoreWeave as a key beneficiary of the next AI chip cycle, while Cantor Fitzgerald reiterated an Overweight rating and a $167 target. Article Title
• Positive Sentiment: CoreWeave announced a partnership with Conapto to expand AI cloud capacity in Sweden, which supports the company’s growth narrative and international expansion. Article Title
• Neutral Sentiment: Several articles argue CoreWeave is one of the stocks that could double over the next two years, reflecting strong long-term enthusiasm but no new hard financial data. Article Title
• Negative Sentiment: CEO Michael Intrator sold shares under a pre-arranged trading plan, and insider Brannin McBee also sold stock. Even though the sales were planned, insider selling can still weigh on sentiment. SEC Filing

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of CoreWeave in a research note on Monday, March 2nd. Barclays raised their target price on shares of CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Wolfe Research started coverage on shares of CoreWeave in a research note on Thursday, April 16th. They issued an “outperform” rating and a $150.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Insider Transactions at CoreWeave

In other news, CEO Michael N. Intrator sold 200,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $106.81, for a total value of $21,362,000.00. Following the completion of the transaction, the chief executive officer owned 3,276,815 shares in the company, valued at approximately $349,996,610.15. This represents a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,924 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $101.32, for a total transaction of $7,793,939.68. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,457,234 shares of company stock worth $3,225,112,891.

CoreWeave Stock Down 2.2%

CoreWeave stock opened at $96.58 on Friday. The stock has a market cap of $43.23 billion, a PE ratio of -31.05 and a beta of 7.14. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s fifty day moving average is $110.42 and its two-hundred day moving average is $94.62. CoreWeave Inc. has a 1-year low of $63.80 and a 1-year high of $173.35.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The business had revenue of $2.08 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm’s quarterly revenue was up 111.6% compared to the same quarter last year. During the same period last year, the business earned ($0.60) earnings per share. On average, sell-side analysts expect that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

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.