CoreWeave Inc. $CRWV Holdings Lifted by Swiss National Bank

Key Points

• Swiss National Bank increased its CoreWeave stake by 46% in the first quarter, ending with 688,468 shares worth about $53.3 million. Several other institutions also added to or trimmed positions.
• Wall Street sentiment remains constructive, with recent upgrades from Truist, Baird, and TD Cowen, while the overall consensus rating sits at Moderate Buy and the average target price is about $136.25.
• CoreWeave’s business is still growing quickly, reporting 111.6% revenue growth last quarter, but it missed earnings expectations and continues to face concerns over debt, cash burn, and heavy capital spending.

Swiss National Bank boosted its holdings in CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 688,468 shares of the company's stock after acquiring an additional 217,000 shares during the quarter. Swiss National Bank owned 0.16% of CoreWeave worth $53,336,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CRWV. Azzad Asset Management Inc. ADV raised its holdings in CoreWeave by 2.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company's stock worth $389,000 after purchasing an additional 104 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in CoreWeave by 34.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company's stock valued at $33,000 after purchasing an additional 119 shares in the last quarter. Cullen Frost Bankers Inc. increased 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 during the period. Parkside Financial Bank & Trust lifted its holdings in shares of CoreWeave by 26.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 600 shares of the company's stock valued at $43,000 after buying an additional 125 shares during the period. Finally, WPG Advisers LLC boosted its stake in CoreWeave by 14.1% during the first quarter. WPG Advisers LLC now owns 1,159 shares of the company's stock valued at $90,000 after buying an additional 143 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on CRWV. BNP Paribas Exane began coverage on CoreWeave in a report on Tuesday, June 2nd. They set an "outperform" rating and a $192.00 target price on the stock. TD Cowen raised shares of CoreWeave to a "buy" rating in a report on Wednesday. Oppenheimer raised their price objective on shares of CoreWeave from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of CoreWeave from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 24th. Twenty-two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.25.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Truist upgraded CoreWeave to Buy, helping lift the stock as Wall Street continues to favor the company’s AI infrastructure growth story. CoreWeave upgraded to buy at Truist
• Positive Sentiment: Baird initiated coverage on CoreWeave with an Outperform rating, adding another vote of confidence in the company’s ability to benefit from AI demand and cloud expansion. CoreWeave, Nebius initiated with outperform ratings at Baird
• Positive Sentiment: Several pieces highlight the company’s strong revenue growth outlook and recent rebound, including commentary that CoreWeave is chasing 108% Q2 revenue growth with major power capacity expansion. CoreWeave (CRWV) Is Chasing 108% Q2 Revenue Growth With A Big Power Ramp
• Neutral Sentiment: The CFO sold about $5.5 million of company shares, which may raise some investor caution but is not necessarily a fundamental red flag on its own. CoreWeave's CFO Sold Company Shares for $5.5 Million. What Does That Mean for Investors?
• Neutral Sentiment: Analyst target updates show mixed but still constructive sentiment: one report noted a $139.69 consensus price target, while Barclays cut its target to $90 and kept an equal-weight view. CoreWeave Inc. NASDAQ: CRWV Receives $139.69 Consensus PT from Brokerages
• Negative Sentiment: Broader concerns remain around CoreWeave’s heavy debt load, large capital spending needs, and pressure to quickly add power capacity, which could limit upside if execution slows. CoreWeave's AI-Native Cloud Faces the Storm

CoreWeave Trading Up 3.8%

Shares of NASDAQ CRWV opened at $82.64 on Thursday. CoreWeave Inc. has a 12 month low of $63.80 and a 12 month high of $153.20. The company has a market cap of $36.99 billion, a price-to-earnings ratio of -26.57 and a beta of 7.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The business has a fifty day simple moving average of $98.41 and a 200-day simple moving average of $95.46.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm's revenue for the quarter was up 111.6% compared to the same quarter last year. During the same period last year, the business earned ($0.60) EPS. Sell-side analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Insiders Place Their Bets

In related news, insider Brian M. Venturo sold 375,000 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $109.03, for a total value of $40,886,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,284,876 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $119.91, for a total transaction of $154,069,481.16. Following the completion of the transaction, the insider directly owned 264,061 shares of the company's stock, valued at $31,663,554.51. This represents a 82.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,072,869 shares of company stock worth $1,983,274,420 over the last ninety days. 24.20% of the stock is currently owned by company insiders.

CoreWeave Company 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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