Triumph Capital Management Boosts Position in CoreWeave Inc. $CRWV

Triumph Capital Management grew its stake in shares of CoreWeave Inc. (NASDAQ:CRWV) by 119.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,868 shares of the company’s stock after buying an additional 6,459 shares during the period. Triumph Capital Management’s holdings in CoreWeave were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new position in CoreWeave during the third quarter valued at approximately $34,000. Essential Partners LLC purchased a new stake in CoreWeave in the 2nd quarter worth approximately $30,000. Burnham & Co LLC purchased a new stake in CoreWeave in the 2nd quarter worth approximately $32,000. Cornerstone Planning Group LLC boosted its holdings in CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Kristen J. Mcveety sold 2,100 shares of CoreWeave stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $88.03, for a total value of $184,863.00. Following the sale, the insider directly owned 123,313 shares in the company, valued at approximately $10,855,243.39. This trade represents a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $88.60, for a total value of $17,720,000.00. Following the completion of the sale, the chief executive officer directly owned 1,487,129 shares of the company’s stock, valued at $131,759,629.40. The trade was a 11.85% decrease in their position. 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 have sold 7,277,865 shares of company stock worth $682,576,524. Insiders own 24.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRWV shares. BNP Paribas Exane initiated coverage on CoreWeave in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 price objective on the stock. Piper Sandler reiterated 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. Truist Financial boosted their price target on shares of CoreWeave from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Roth Capital set a $145.00 price objective on shares of CoreWeave in a research report on Thursday, August 13th. Finally, Robert W. Baird raised their price objective on shares of CoreWeave from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Twenty-one investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.90.

CoreWeave Stock Performance

NASDAQ CRWV opened at $84.89 on Tuesday. The firm has a market cap of $38.95 billion, a price-to-earnings ratio of -23.26 and a beta of 7.45. CoreWeave Inc. has a 12-month low of $60.55 and a 12-month high of $153.20. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. The company has a 50-day simple moving average of $86.64 and a two-hundred day simple moving average of $94.71.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.52) by $0.38. The firm 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 firm’s revenue for the quarter was up 112.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) EPS. On average, equities analysts forecast that CoreWeave Inc. will post -5.19 EPS for the current year.

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.