CoreWeave Inc. $CRWV Position Increased by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC increased its CoreWeave stake by 166.1% in Q1, buying 547,170 additional shares and ending with 876,527 shares valued at about $67.9 million.
• CoreWeave shares were down 5.6% and opened at $111.29, while the company continues to show a highly leveraged balance sheet with a debt-to-equity ratio of 3.68 and a negative earnings profile.
• The company’s latest earnings showed revenue up 111.6% year over year to $2.08 billion, but EPS of -$1.40 missed estimates; meanwhile, analysts remain mostly positive with a Moderate Buy consensus and an average price target of $131.52.

SG Americas Securities LLC boosted its stake in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 166.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 876,527 shares of the company's stock after purchasing an additional 547,170 shares during the quarter. SG Americas Securities LLC owned approximately 0.21% of CoreWeave worth $67,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. boosted its holdings in shares of CoreWeave by 34.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company's stock valued at $33,000 after acquiring an additional 119 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of 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 during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of CoreWeave by 26.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 600 shares of the company's stock worth $43,000 after acquiring an additional 125 shares during the period. Main Management ETF Advisors LLC increased its holdings in shares of CoreWeave by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the company's stock worth $1,234,000 after acquiring an additional 176 shares during the period. Finally, Banco Santander S.A. lifted its position in CoreWeave by 7.9% in the 3rd quarter. Banco Santander S.A. now owns 2,455 shares of the company's stock valued at $336,000 after purchasing an additional 180 shares during the last quarter.

CoreWeave Stock Down 5.6%

CoreWeave stock opened at $111.29 on Tuesday. CoreWeave Inc. has a 52 week low of $63.80 and a 52 week high of $183.98. The stock has a market cap of $49.81 billion, a price-to-earnings ratio of -35.78 and a beta of 7.14. The company's 50-day moving average price is $111.34 and its two-hundred day moving average price is $94.23. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued 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 return on equity of 43.07% and a negative net margin of 25.57%.The company's revenue for the quarter was up 111.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) earnings per share. On average, analysts expect that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Insider Activity

In other news, insider Brannin Mcbee sold 52,500 shares of CoreWeave stock in a transaction on Monday, June 15th. The stock was sold at an average price of $107.30, for a total transaction of $5,633,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,924 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $118.48, for a total value of $9,113,955.52. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,905,074 shares of company stock valued at $3,163,836,081 over the last 90 days.

Analysts Set New Price Targets

CRWV has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Wells Fargo & Company lifted their price target on CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Jefferies Financial Group increased their price objective on CoreWeave from $120.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Roth Mkm restated a "buy" rating and issued a $150.00 target price on shares of CoreWeave in a research report on Friday, May 8th. Finally, Truist Financial raised their target price on CoreWeave from $85.00 to $131.00 and gave the company a "hold" rating in a research report on Friday, May 8th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, CoreWeave currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.52.

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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