Meridian Wealth Management LLC Invests $11.74 Million in CoreWeave Inc. $CRWV

Meridian Wealth Management LLC bought a new stake in CoreWeave Inc. (NASDAQ:CRWV) in the second quarter, HoldingsChannel.com reports. The firm bought 72,018 shares of the company’s stock, valued at approximately $11,743,000.

Other large investors also recently bought and sold shares of the company. Cisco Systems Inc. purchased a new position in shares of CoreWeave in the 2nd quarter valued at about $173,493,000. Geode Capital Management LLC grew its holdings in CoreWeave by 142.6% during the 2nd quarter. Geode Capital Management LLC now owns 716,178 shares of the company’s stock worth $116,809,000 after acquiring an additional 420,915 shares in the last quarter. Lmdagg L.L.C. purchased a new stake in shares of CoreWeave in the 2nd quarter valued at approximately $48,030,000. Sivia Capital Partners LLC purchased a new stake in shares of CoreWeave during the 2nd quarter worth $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in CoreWeave in the second quarter valued at $34,284,000.

Analysts Set New Price Targets

CRWV has been the topic of a number of research analyst reports. Stifel Nicolaus set a $120.00 price objective on shares of CoreWeave in a report on Tuesday. Citigroup raised CoreWeave from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Thursday, July 31st. Moffett Nathanson lifted their price target on CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. DA Davidson restated an “underperform” rating and set a $36.00 target price on shares of CoreWeave in a research report on Tuesday. Finally, Mizuho reduced their price target on shares of CoreWeave from $150.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.62.

Insider Activity at CoreWeave

In other CoreWeave news, SVP Chen Goldberg sold 13,740 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $90.79, for a total transaction of $1,247,454.60. Following the transaction, the senior vice president directly owned 23,344 shares in the company, valued at approximately $2,119,401.76. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian M. Venturo sold 281,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $87.57, for a total value of $24,629,062.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,123,035 shares of company stock worth $4,426,625,546 over the last three months.

CoreWeave Price Performance

Shares of CRWV opened at $77.36 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.79. The stock’s 50 day moving average is $122.82 and its two-hundred day moving average is $118.56. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00. The firm has a market capitalization of $37.80 billion and a PE ratio of -67.86.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results 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 business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. The firm’s quarterly revenue was up 133.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

About CoreWeave

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.