CoreWeave (NASDAQ:CRWV) Shares Up 5.1% – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s share price traded up 5.1% during trading on Tuesday . The stock traded as high as $91.22 and last traded at $90.66. 33,984,475 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 24,325,773 shares. The stock had previously closed at $86.24.

Analyst Ratings Changes

CRWV has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of CoreWeave in a report on Monday. Seaport Res Ptn raised CoreWeave to a “hold” rating in a research report on Monday, September 15th. Evercore ISI cut their price target on CoreWeave from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective on CoreWeave from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Finally, Arete Research raised CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, CoreWeave currently has a consensus rating of “Hold” and an average target price of $129.47.

CoreWeave Price Performance

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50 day moving average price of $106.23 and a 200 day moving average price of $120.12. The firm has a market cap of $33.76 billion and a PE ratio of -60.26.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned ($1.82) EPS. CoreWeave’s revenue for the quarter was up 133.7% on a year-over-year basis.

Insider Activity at CoreWeave

In related news, insider Brian M. Venturo sold 65,606 shares of CoreWeave stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $74.95, for a total transaction of $4,917,169.70. Following the completion of the sale, the insider owned 182,679 shares in the company, valued at approximately $13,691,791.05. This trade represents a 26.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brannin Mcbee sold 102,835 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $83.80, for a total transaction of $8,617,573.00. Following the completion of the transaction, the insider directly owned 185,181 shares of the company’s stock, valued at approximately $15,518,167.80. This represents a 35.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,065,587 shares of company stock valued at $3,703,558,475.

Institutional Investors Weigh In On CoreWeave

Several hedge funds have recently made changes to their positions in CRWV. Nvidia Corp boosted its stake in CoreWeave by 0.4% in the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after buying an additional 95,113 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares during the period. Invesco Ltd. boosted its position in shares of CoreWeave by 55,329.7% in the third quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after acquiring an additional 2,993,889 shares during the last quarter. Finally, Clear Street Group Inc. purchased a new stake in CoreWeave in the third quarter valued at approximately $405,199,000.

CoreWeave Company Profile

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.