Hedges Asset Management LLC Takes $391,000 Position in CoreWeave Inc. $CRWV
Hedges Asset Management LLC acquired a new stake in CoreWeave Inc. (NASDAQ:CRWV) during the 2nd quarter, purchasing 2,400 shares valued at approximately $391,000. Other hedge funds have also invested in CoreWeave, with notable purchases from Gamco Investors and Goldman Sachs. Major shareholders have sold significant shares recently, indicating changes in ownership. Analysts have mixed ratings on CoreWeave, with price targets ranging from $58 to $200. The stock opened at $111.96, with a 52-week range of $33.51 to $187.00, and reported a revenue increase of 206.7% year-over-year.
Hedges Asset Management LLC purchased a new stake in CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,400 shares of the company's stock, valued at approximately $391,000.
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A number of other hedge funds have also recently made changes to their positions in CRWV. Gamco Investors INC. ET AL purchased a new position in shares of CoreWeave during the 1st quarter worth approximately $318,000. Goldman Sachs Group Inc. purchased a new position in shares of CoreWeave during the 1st quarter worth approximately $963,000. Howard Financial Services LTD. purchased a new position in shares of CoreWeave during the 2nd quarter worth approximately $489,000. McAlister Sweet & Associates Inc. purchased a new position in shares of CoreWeave during the 2nd quarter worth approximately $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CoreWeave during the 2nd quarter worth approximately $117,000.
Insider Activity
In other news, major shareholder Magnetar Financial Llc sold 204,416 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $118.05, for a total value of $24,131,308.80. Following the sale, the insider directly owned 387,133 shares in the company, valued at approximately $45,701,050.65. This trade represents a 34.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brannin Mcbee sold 250,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $99.47, for a total transaction of $24,867,500.00. Following the completion of the sale, the insider owned 121,965 shares in the company, valued at $12,131,858.55. The trade was a 67.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,768,534 shares of company stock valued at $974,154,272 over the last quarter.
Wall Street Analyst Weigh In
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A number of research firms recently weighed in on CRWV. Morgan Stanley increased their price objective on shares of CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Argus reaffirmed a "buy" rating and set a $200.00 price objective on shares of CoreWeave in a research report on Thursday, August 14th. Wall Street Zen cut shares of CoreWeave from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Hsbc Global Res upgraded shares of CoreWeave to a "moderate sell" rating in a report on Thursday, July 17th. Finally, Bank of America reduced their target price on shares of CoreWeave from $185.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $107.45.
View Our Latest Stock Analysis on CoreWeave
CoreWeave Trading Down 0.6%
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CoreWeave stock opened at $111.96 on Friday. CoreWeave Inc. has a 52-week low of $33.51 and a 52-week high of $187.00. 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 business's 50 day simple moving average is $113.83.
CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The business had revenue of $1.21 million for the quarter. The company's revenue for the quarter was up 206.7% on a year-over-year basis. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.
About CoreWeave
(Free Report)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.
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Want to see what other hedge funds are holding CRWV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoreWeave Inc. (NASDAQ:CRWV - Free Report).
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