Saudi Central Bank Increases Stock Holdings in CoreWeave Inc. $CRWV

Saudi Central Bank boosted its holdings in CoreWeave Inc. (NASDAQ:CRWV) by 119.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,040 shares of the company’s stock after purchasing an additional 10,381 shares during the quarter. Saudi Central Bank’s holdings in CoreWeave were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Sivia Capital Partners LLC purchased a new stake in CoreWeave in the 2nd quarter valued at about $39,824,000. Quantbot Technologies LP acquired a new stake in shares of CoreWeave in the second quarter worth approximately $311,000. Invesco Ltd. purchased a new stake in CoreWeave in the second quarter valued at approximately $882,000. First Trust Advisors LP purchased a new stake in CoreWeave in the second quarter valued at approximately $20,260,000. Finally, Baird Financial Group Inc. acquired a new position in CoreWeave during the second quarter worth approximately $455,000.

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 transaction, the chief executive officer owned 3,138,612 shares in the company, valued at $305,794,967.16. The trade was a 8.15% decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $108.75, for a total value of $33,400,496.25. Following the completion of 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. The disclosure for this sale is available in the SEC filing. Insiders sold 7,052,467 shares of company stock worth $649,768,759 over the last three months. 24.20% of the stock is currently owned by corporate insiders.

CoreWeave Price Performance

CRWV opened at $89.36 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. CoreWeave Inc. has a 52-week low of $60.55 and a 52-week high of $153.20. The company has a 50 day moving average of $85.20 and a two-hundred day moving average of $94.37. The company has a market cap of $41.00 billion, a P/E ratio of -24.48 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The business had revenue of $2.58 billion for the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business’s revenue was up 112.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) EPS. On average, analysts expect that CoreWeave Inc. will post -5.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRWV. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of CoreWeave in a research note on Wednesday, August 12th. Mizuho boosted their price objective on shares of CoreWeave from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Weiss Ratings raised CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. TD Cowen upgraded CoreWeave to a “buy” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $153.00 price target (up from $151.00) on shares of CoreWeave in a research report on Wednesday, August 12th. Twenty-one research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.90.

About CoreWeave

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.