Allstate Corp Invests $955,000 in CoreWeave Inc. $CRWV

Key Points

• Allstate Corp disclosed a new fourth-quarter position in CoreWeave, buying 13,340 shares valued at about $955,000.
• Analyst sentiment on CoreWeave remains generally constructive, with multiple price target increases and a current consensus rating of Moderate Buy with a target of $129.63.
• CoreWeave posted strong revenue growth of 111.6% year over year in its latest quarter, but it still reported a larger-than-expected loss and continued negative profitability.

Allstate Corp acquired a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,340 shares of the company's stock, valued at approximately $955,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 251 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in CoreWeave during the third quarter worth $27,000. Aspect Partners LLC bought a new stake in CoreWeave during the third quarter worth $28,000. Cullen Frost Bankers Inc. raised its position in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 121 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in CoreWeave during the third quarter worth $30,000.

Analysts Set New Price Targets

CRWV has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of CoreWeave in a research report on Thursday, April 16th. They set an "outperform" rating and a $150.00 price target on the stock. Sanford C. Bernstein upped their price target on shares of CoreWeave from $56.00 to $67.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 14th. Oppenheimer upped their price target on shares of CoreWeave from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald upped their price objective on shares of CoreWeave from $156.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Finally, Citigroup upped their price objective on shares of CoreWeave from $155.00 to $158.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, CoreWeave presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.63.

CoreWeave Price Performance

NASDAQ:CRWV opened at $109.53 on Friday. CoreWeave Inc. has a one year low of $63.80 and a one year high of $187.00. The company has a market cap of $49.02 billion, a P/E ratio of -35.22 and a beta of 7.84. The firm's fifty day moving average price is $102.63 and its two-hundred day moving average price is $90.63. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $2.08 billion during the quarter. During the same quarter in the prior year, the company posted ($0.60) EPS. CoreWeave's revenue was up 111.6% on a year-over-year basis. Equities analysts expect that CoreWeave Inc. will post -4.84 earnings per share for the current year.

Insider Activity at CoreWeave

In related news, insider Brian M. Venturo sold 1,125,000 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $80.86, for a total value of $90,967,500.00. Following the transaction, the insider directly owned 285,327 shares in the company, valued at approximately $23,071,541.22. This represents a 79.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack D. Cogen sold 986,540 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total transaction of $106,349,012.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 27,265,642 shares of company stock worth $3,043,956,040.

Trending Headlines about CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave launched new unified agentic AI capabilities that aim to connect training and inference in a closed loop, reinforcing its role as a key AI infrastructure provider and supporting the long-term growth story. CoreWeave’s Closed Loop Agentic AI Aims To Reshape Growth Expectations
• Positive Sentiment: Reports highlighted CoreWeave’s backlog approaching $100 billion, suggesting strong demand visibility and multi-year revenue potential as AI cloud spending remains robust. CoreWeave's Backlog Hits Nearly $100B: Multi-Year Growth Secured?
• Positive Sentiment: Analysts remain constructive overall, with recent target increases and a favorable long-term outlook tied to explosive AI infrastructure demand. Here’s What Analysts Think About CoreWeave, Inc. (CRWV)
• Neutral Sentiment: CoreWeave also announced participation in the BofA Securities Global Technology Conference, which keeps management in front of investors but is not a fundamental catalyst by itself. CoreWeave to Participate in the BofA Securities Global Technology Conference
• Negative Sentiment: Heavy insider selling may be pressuring sentiment, including large share sales by Director Jack D. Cogen and additional sales by CEO Michael Intrator, CFO Nitin Agrawal, COO Sachin Jain, and Director Karen Boone. SEC filing for insider sale
• Negative Sentiment: Investors are still focused on CoreWeave’s sizable losses and capital intensity, which could limit enthusiasm despite strong revenue growth and major customer commitments. CoreWeave Lost $740 Million in 90 Days. Then Meta Handed It $21 Billion.

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.

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