Kestra Advisory Services LLC Buys 15,568 Shares of CoreWeave Inc. $CRWV

Kestra Advisory Services LLC raised its position in shares of CoreWeave Inc. (NASDAQ:CRWVFree Report) by 48.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,559 shares of the company’s stock after purchasing an additional 15,568 shares during the period. Kestra Advisory Services LLC’s holdings in CoreWeave were worth $3,684,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CRWV. Azzad Asset Management Inc. ADV raised its holdings in shares of CoreWeave by 2.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock valued at $389,000 after buying an additional 104 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of CoreWeave by 32.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,626,870 shares of the company’s stock valued at $126,034,000 after acquiring an additional 401,000 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of CoreWeave by 39.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 70,769 shares of the company’s stock valued at $5,395,000 after purchasing an additional 19,909 shares during the period. WPG Advisers LLC boosted its position in CoreWeave by 14.1% during the 1st quarter. WPG Advisers LLC now owns 1,159 shares of the company’s stock valued at $90,000 after buying an additional 143 shares during the period. Finally, Capstone Capital Management Ltd boosted its holdings in shares of CoreWeave by 275.4% during the first quarter. Capstone Capital Management Ltd now owns 18,050 shares of the company’s stock worth $1,398,000 after purchasing an additional 13,242 shares during the period.

Insider Buying and Selling at CoreWeave

In other news, CEO Michael N. Intrator sold 61,797 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 2,876,815 shares of the company’s stock, valued at $250,110,296.10. The trade was a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,912 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total value of $6,690,574.88. Following the completion of the sale, the insider owned 283,985 shares of the company’s stock, valued at approximately $24,703,855.15. The trade was a 21.31% decrease in their position. 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. Insiders sold a total of 22,294,471 shares of company stock worth $2,607,466,396 in the last three months. 24.20% of the stock is currently owned by company insiders.

CoreWeave Price Performance

CRWV opened at $73.21 on Friday. The company’s 50-day simple moving average is $100.38 and its two-hundred day simple moving average is $95.19. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $32.77 billion, a P/E ratio of -23.54 and a beta of 7.17. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $153.20.

CoreWeave (NASDAQ:CRWVGet Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.60) EPS. As a group, analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of CoreWeave in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 price target on shares of CoreWeave in a research report on Friday, May 8th. Barclays boosted their price objective on shares of CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group increased their target price on CoreWeave from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Twenty research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

Check Out Our Latest Research Report on CoreWeave

CoreWeave Company 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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