Creative Planning Purchases New Position in CoreWeave Inc. $CRWV

Creative Planning acquired a new stake in CoreWeave Inc. (NASDAQ:CRWV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 140,135 shares of the company’s stock, valued at approximately $22,850,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRWV. Chelsea Counsel Co. acquired a new stake in shares of CoreWeave during the 2nd quarter valued at $33,000. Chilton Capital Management LLC acquired a new stake in shares of CoreWeave during the second quarter valued at about $39,000. Montag A & Associates Inc. acquired a new stake in shares of CoreWeave during the second quarter valued at about $49,000. SOA Wealth Advisors LLC. grew its holdings in shares of CoreWeave by 275.0% during the second quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company’s stock worth $61,000 after purchasing an additional 275 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of CoreWeave in the second quarter valued at approximately $61,000.

CoreWeave Stock Down 1.3%

Shares of CoreWeave stock opened at $77.36 on Monday. The firm has a market cap of $29.89 billion and a price-to-earnings ratio of -67.86. The stock’s 50-day moving average is $122.82 and its 200 day moving average is $119.64. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. CoreWeave Inc. has a one year low of $33.51 and a one year high of $187.00.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. CoreWeave’s quarterly revenue was up 133.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 7,688 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $134.94, for a total transaction of $1,037,418.72. Following the transaction, the insider owned 299,512 shares in the company, valued at approximately $40,416,149.28. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Chen Goldberg sold 13,740 shares of the stock in a transaction dated Tuesday, November 11th. The stock was 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 $2,119,401.76. This trade represents a 37.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 34,573,353 shares of company stock valued at $4,371,228,594.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho cut their target price on shares of CoreWeave from $150.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Seaport Res Ptn upgraded shares of CoreWeave to a “hold” rating in a report on Monday, September 15th. Barclays reduced their price objective on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Moffett Nathanson raised their target price on CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $180.00 target price on shares of CoreWeave in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, CoreWeave has an average rating of “Moderate Buy” and a consensus target price of $128.62.

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.