Diversify Wealth Management LLC Purchases 14,895 Shares of CoreWeave Inc. $CRWV

Diversify Wealth Management LLC boosted its position in CoreWeave Inc. (NASDAQ:CRWVFree Report) by 364.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,983 shares of the company’s stock after buying an additional 14,895 shares during the quarter. Diversify Wealth Management LLC’s holdings in CoreWeave were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. 180 Wealth Advisors LLC raised its stake in shares of CoreWeave by 123.4% in the first quarter. 180 Wealth Advisors LLC now owns 32,671 shares of the company’s stock valued at $2,531,000 after buying an additional 18,049 shares during the period. Fifth Third Bancorp grew its stake in shares of CoreWeave by 374.5% during the 1st quarter. Fifth Third Bancorp now owns 4,588 shares of the company’s stock worth $355,000 after acquiring an additional 3,621 shares during the period. Candriam S.C.A. bought a new position in shares of CoreWeave during the 1st quarter worth $1,103,000. Sequoia Financial Advisors LLC purchased a new stake in CoreWeave in the 1st quarter worth about $309,000. Finally, Cedar Mountain Advisors LLC increased its holdings in CoreWeave by 128.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 1,425 shares of the company’s stock worth $110,000 after acquiring an additional 800 shares during the last quarter.

Insider Activity

In other news, insider Brian M. Venturo sold 76,912 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total value of $6,690,574.88. Following the sale, the insider directly owned 283,985 shares of the company’s stock, valued at approximately $24,703,855.15. This represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, CEO Michael N. Intrator sold 61,797 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the completion of the transaction, the chief executive officer owned 2,876,815 shares of the company’s stock, valued at $250,110,296.10. This trade represents a 2.10% 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. Insiders have sold a total of 24,130,539 shares of company stock worth $2,824,785,086 over the last ninety days. Company insiders own 24.20% of the company’s stock.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $79.94 on Wednesday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $153.20. The firm has a market cap of $35.78 billion, a price-to-earnings ratio of -25.70 and a beta of 7.17. The business’s fifty day moving average is $103.54 and its 200 day moving average is $95.38.

CoreWeave (NASDAQ:CRWVGet Free Report) last issued its quarterly earnings data 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). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company had revenue of $2.08 billion for the quarter. During the same quarter last year, the business earned ($0.60) earnings per share. The business’s quarterly revenue was up 111.6% compared to the same quarter last year. Research analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRWV shares. Roth Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Oppenheimer increased their target price on shares of CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of CoreWeave in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 price target on shares of CoreWeave in a research note on Friday, May 8th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.73.

Read Our Latest Research Report on CRWV

CoreWeave Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CoreWeave (NASDAQ:CRWV)

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