Triumph Capital Management Increases Holdings in CoreWeave Inc. $CRWV

Triumph Capital Management increased its position in CoreWeave Inc. (NASDAQ:CRWVFree Report) by 119.4% during the second quarter, HoldingsChannel.com reports. The firm owned 11,868 shares of the company’s stock after acquiring an additional 6,459 shares during the quarter. Triumph Capital Management’s holdings in CoreWeave were worth $1,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of CoreWeave during the third quarter valued at approximately $34,000. Essential Partners LLC bought a new position in CoreWeave in the 2nd quarter valued at approximately $30,000. Burnham & Co LLC bought a new position in CoreWeave in the 2nd quarter valued at approximately $32,000. Cornerstone Planning Group LLC boosted its stake in CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares during the last quarter.

CoreWeave Price Performance

NASDAQ CRWV opened at $84.89 on Tuesday. The business’s fifty day moving average price is $86.64 and its 200-day moving average price is $94.71. The stock has a market capitalization of $38.95 billion, a price-to-earnings ratio of -23.26 and a beta of 7.45. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. CoreWeave Inc. has a 1-year low of $60.55 and a 1-year high of $153.20.

CoreWeave (NASDAQ:CRWVGet Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.The firm had revenue of $2.58 billion for the quarter. During the same quarter last year, the business earned ($0.27) earnings per share. The business’s quarterly revenue was up 112.5% on a year-over-year basis. On average, equities analysts predict that CoreWeave Inc. will post -5.19 earnings per share for the current year.

Insider Activity

In other CoreWeave news, CEO Michael N. Intrator sold 278,560 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $97.43, for a total transaction of $27,140,100.80. Following the completion of the sale, the chief executive officer directly owned 3,138,612 shares in the company, valued at $305,794,967.16. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, major shareholder Magnetar Financial Llc sold 307,131 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $108.75, for a total transaction of $33,400,496.25. Following the sale, the insider directly owned 220,810 shares of the company’s stock, valued at $24,013,087.50. The trade was a 58.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,277,865 shares of company stock worth $682,576,524 over the last three months. Insiders own 24.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CRWV. The Goldman Sachs Group lifted their target price on CoreWeave from $121.00 to $139.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Roth Capital set a $145.00 price objective on CoreWeave in a research report on Thursday, August 13th. Wolfe Research reiterated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Piper Sandler reiterated an “overweight” rating and issued a $153.00 price objective (up from $151.00) on shares of CoreWeave in a report on Wednesday, August 12th. Finally, Truist Financial boosted their target price on CoreWeave from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Twenty-one investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.90.

Check Out 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.

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Institutional Ownership by Quarter for CoreWeave (NASDAQ:CRWV)

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