PensionDanmark Pensionsforsikringsaktieselskab Sells 9,807 Shares of CoreWeave Inc. $CRWV

PensionDanmark Pensionsforsikringsaktieselskab reduced its stake in CoreWeave Inc. (NASDAQ:CRWV) by 31.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,241 shares of the company’s stock after selling 9,807 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in CoreWeave were worth $2,114,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Cornerstone Planning Group LLC boosted its holdings in shares of CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares during the period. Greenline Wealth Management LLC bought a new position in shares of CoreWeave during the fourth quarter worth approximately $28,000. Peterson Wealth Services lifted its holdings in CoreWeave by 153.1% during the 1st quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after purchasing an additional 245 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in CoreWeave during the 1st quarter worth approximately $31,000.

Insider Activity

In related news, insider Brannin Mcbee sold 10,536 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.63, for a total transaction of $881,125.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Chen Goldberg sold 19,208 shares of CoreWeave stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $92.29, for a total transaction of $1,772,706.32. Following the completion of the transaction, the executive vice president directly owned 71,266 shares in the company, valued at $6,577,139.14. This trade represents a 21.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 9,036,105 shares of company stock worth $896,789,395. Insiders own 24.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRWV has been the topic of a number of research reports. Piper Sandler initiated coverage on CoreWeave in a report on Monday, August 3rd. They issued an “overweight” rating and a $151.00 price objective on the stock. Jefferies Financial Group downgraded CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Robert W. Baird started coverage on shares of CoreWeave in a research report on Tuesday, July 21st. They issued an “outperform” rating and a $100.00 target price for the company. Truist Financial upgraded shares of CoreWeave from a “hold” rating to a “buy” rating and decreased their price target for the company from $131.00 to $126.00 in a research note on Tuesday, July 21st. Finally, Mizuho decreased their price target on shares of CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CoreWeave has an average rating of “Moderate Buy” and a consensus price target of $136.67.

CoreWeave Trading Down 2.7%

Shares of CoreWeave stock opened at $88.19 on Tuesday. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of -28.36 and a beta of 7.45. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. CoreWeave Inc. has a 12-month low of $60.55 and a 12-month high of $153.20. The firm’s 50-day moving average price is $91.08 and its two-hundred day moving average price is $94.76.

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.