Meridian Wealth Management LLC Sells 68,953 Shares of CoreWeave Inc. $CRWV

Meridian Wealth Management LLC cut its stake in shares of CoreWeave Inc. (NASDAQ:CRWVFree Report) by 95.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,065 shares of the company’s stock after selling 68,953 shares during the period. Meridian Wealth Management LLC’s holdings in CoreWeave were worth $419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mutual Advisors LLC purchased a new stake in CoreWeave during the third quarter valued at $1,394,000. UMB Bank n.a. purchased a new stake in shares of CoreWeave during the 3rd quarter valued at about $34,000. Hazlett Burt & Watson Inc. increased its position in shares of CoreWeave by 1,272.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 318 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of CoreWeave by 521.3% in the 3rd quarter. Independent Advisor Alliance now owns 14,030 shares of the company’s stock worth $1,920,000 after purchasing an additional 11,772 shares during the period. Finally, Keybank National Association OH purchased a new position in shares of CoreWeave in the third quarter worth approximately $327,000.

Wall Street Analyst Weigh In

CRWV has been the topic of several recent research reports. DA Davidson upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and increased their price target for the stock from $68.00 to $110.00 in a research report on Monday, January 26th. Evercore ISI decreased their target price on CoreWeave from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Mizuho lifted their target price on CoreWeave from $92.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Citigroup reissued a “buy” rating and set a $135.00 price target (down previously from $192.00) on shares of CoreWeave in a report on Friday, December 19th. Finally, Loop Capital decreased their price objective on CoreWeave from $165.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.27.

Get Our Latest Analysis on CoreWeave

Key CoreWeave News

Here are the key news stories impacting CoreWeave this week:

Insider Buying and Selling

In other news, insider Brian M. Venturo sold 281,250 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $91.77, for a total value of $25,810,312.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brannin Mcbee sold 33,335 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $101.45, for a total transaction of $3,381,835.75. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,046,993 shares of company stock valued at $334,183,318.

CoreWeave Stock Up 1.3%

NASDAQ CRWV opened at $90.06 on Wednesday. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The stock has a market cap of $34.80 billion and a PE ratio of -62.11. The stock’s 50 day moving average is $84.00 and its 200 day moving average is $102.88.

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

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.

Featured Stories

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Institutional Ownership by Quarter for CoreWeave (NASDAQ:CRWV)

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