CoreWeave Inc. $CRWV Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its CoreWeave stake by 64.7% in the second quarter, purchasing 555,999 additional shares to reach 1.42 million shares worth approximately $140.9 million.
• CoreWeave insiders have sold heavily, with 7.15 million shares valued at about $667.8 million sold over the past 90 days. CEO Michael Intrator alone sold 200,000 shares for $17.7 million under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a consensus “Moderate Buy” rating with a $141.90 price target, while CoreWeave shares opened at $81.85 and remain well below their 52-week high of $153.20. The company reported 112.5% year-over-year revenue growth to $2.58 billion but remained unprofitable.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 64.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,415,103 shares of the company's stock after buying an additional 555,999 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of CoreWeave worth $140,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRWV. Proficio Capital Partners LLC boosted its stake in shares of CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares in the last quarter. Bank of America Corp DE grew its holdings in CoreWeave by 13.1% in the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company's stock valued at $437,870,000 after purchasing an additional 653,398 shares during the last quarter. Clear Street Group Inc. increased its position in shares of CoreWeave by 57.2% in the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company's stock valued at $333,260,000 after buying an additional 1,692,916 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock worth $286,440,000 after buying an additional 3,000,000 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of CoreWeave by 22,624.0% in the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company's stock worth $273,039,000 after buying an additional 3,796,077 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Michael N. Intrator sold 200,000 shares of the company'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 transaction, the chief executive officer directly owned 1,487,129 shares in the company, valued at approximately $131,759,629.40. This represents a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 5,899 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $91.88, for a total value of $542,000.12. Following the transaction, the insider owned 241,371 shares in the company, valued at $22,177,167.48. This trade represents a 2.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 7,146,467 shares of company stock valued at $667,792,935. 24.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of CoreWeave in a research report on Thursday, August 13th. Jefferies Financial Group cut shares of CoreWeave from a "buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. BTIG Research assumed coverage on CoreWeave in a research report on Wednesday, July 22nd. They set a "buy" rating for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of CoreWeave in a research note on Wednesday, August 12th. Finally, DA Davidson reiterated a "neutral" rating and set a $100.00 target price (down from $175.00) on shares of CoreWeave in a report on Monday, May 18th. Twenty-one analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.90.

CoreWeave Stock Down 3.6%

Shares of NASDAQ CRWV opened at $81.85 on Wednesday. CoreWeave Inc. has a 1 year low of $60.55 and a 1 year high of $153.20. The firm's 50 day moving average price is $86.15 and its 200 day moving average price is $94.62. The firm has a market cap of $37.56 billion, a P/E ratio of -22.42 and a beta of 7.45. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The firm had revenue of $2.58 billion during the quarter. During the same period in the previous year, the firm posted ($0.27) earnings per share. The firm's revenue was up 112.5% on a year-over-year basis. As a group, sell-side analysts anticipate that CoreWeave Inc. will post -5.19 earnings per share 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.

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