Independent Financial Group LLC Purchases New Shares in CoreWeave Inc. $CRWV

Independent Financial Group LLC acquired a new stake in CoreWeave Inc. (NASDAQ:CRWV) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,636 shares of the company’s stock, valued at approximately $1,366,000.

A number of other large investors have also modified their holdings of CRWV. Vanguard Group Inc. lifted its position in shares of CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CoreWeave by 6,022.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock valued at $8,075,000 after acquiring an additional 110,926 shares during the period. Legal & General Group Plc increased its holdings in CoreWeave by 8,455.6% in the 4th quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock worth $43,775,000 after acquiring an additional 604,156 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock worth $4,794,000 after acquiring an additional 26,907 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd acquired a new position in CoreWeave during the fourth quarter worth $15,539,000.

Analysts Set New Price Targets

Several research firms have issued reports on CRWV. Roth Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Citigroup boosted their target price on shares of CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Evercore restated an “outperform” rating and set a $150.00 price target on shares of CoreWeave in a research report on Wednesday, April 15th. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, March 24th. Finally, Oppenheimer lifted their price objective on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Twenty equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

CoreWeave Stock Performance

Shares of CRWV stock opened at $73.21 on Monday. CoreWeave Inc. has a fifty-two week low of $63.80 and a fifty-two week high of $153.20. 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’s fifty day moving average is $100.38 and its two-hundred day moving average is $95.33. The firm has a market capitalization of $32.77 billion, a P/E ratio of -23.54 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business 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 company’s quarterly revenue was up 111.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.60) earnings per share. Research analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at CoreWeave

In other news, CEO Michael N. Intrator sold 61,797 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total value of $5,372,631.18. Following the completion of the sale, the chief executive officer directly owned 2,876,815 shares in the company, valued at $250,110,296.10. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 53,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $86.13, for a total value of $4,564,890.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,516,306 shares of company stock worth $2,400,874,625. Insiders own 24.20% of the company’s stock.

CoreWeave Profile

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.