Wedbush Securities Inc. Makes New Investment in CoreWeave Inc. $CRWV

Wedbush Securities Inc. bought a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,868 shares of the company’s stock, valued at approximately $305,000.

A number of other hedge funds also recently bought and sold shares of CRWV. Princeton Capital Management LLC acquired a new stake in shares of CoreWeave during the second quarter valued at approximately $228,000. Atlantic Union Bankshares Corp purchased a new position in shares of CoreWeave during the second quarter valued at $61,000. Fourth Dimension Wealth LLC acquired a new position in CoreWeave during the second quarter valued at $361,000. GPS Wealth Strategies Group LLC purchased a new stake in CoreWeave in the 2nd quarter worth about $92,000. Finally, Rockline Wealth Management LLC purchased a new position in CoreWeave during the 2nd quarter valued at about $951,000.

Insider Buying and Selling

In related news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the sale, the insider owned 363,631 shares in the company, valued at approximately $45,672,053.60. This represents a 79.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total transaction of $105,295,658.76. Following the sale, the director directly owned 12,329,676 shares of the company’s stock, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,743,427 shares of company stock valued at $4,592,624,537.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRWV. Citigroup raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Thursday, July 31st. Melius raised CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Tuesday, September 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $174.00 target price on shares of CoreWeave in a research report on Wednesday, November 5th. Evercore ISI reduced their price objective on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $180.00 target price on shares of CoreWeave in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, CoreWeave has an average rating of “Moderate Buy” and a consensus price target of $128.62.

CoreWeave Trading Down 3.8%

CRWV stock opened at $82.17 on Thursday. The business has a fifty day moving average of $123.24 and a 200-day moving average of $118.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. The company has a market cap of $40.15 billion and a P/E ratio of -72.08. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00.

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

About CoreWeave

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.