Diversify Wealth Management LLC Has $1.47 Million Holdings in CoreWeave Inc. $CRWV

Key Points

• Diversify Wealth Management LLC increased its CoreWeave stake by 364.4% in the first quarter, ending with 18,983 shares worth about $1.47 million.
• CoreWeave reported Q1 revenue of $2.08 billion, up 111.6% year over year, but posted a wider-than-expected loss of $1.40 per share.
• Despite strong analyst interest, the stock has seen heavy insider selling, including large sales by directors and executives, while analysts currently rate it a Moderate Buy with an average price target of $136.73.

Diversify Wealth Management LLC boosted its holdings in CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 364.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,983 shares of the company's stock after acquiring an additional 14,895 shares during the quarter. Diversify Wealth Management LLC's holdings in CoreWeave were worth $1,471,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CRWV. Sivia Capital Partners LLC bought a new stake in CoreWeave during the 2nd quarter worth approximately $39,824,000. Quantbot Technologies LP bought a new position in shares of CoreWeave in the second quarter valued at approximately $311,000. Invesco Ltd. purchased a new position in shares of CoreWeave during the second quarter valued at approximately $882,000. First Trust Advisors LP purchased a new position in shares of CoreWeave during the second quarter valued at approximately $20,260,000. Finally, Baird Financial Group Inc. purchased a new position in shares of CoreWeave during the second quarter valued at approximately $455,000.

CoreWeave Stock Performance

Shares of CoreWeave stock opened at $79.94 on Wednesday. The business's fifty day simple moving average is $103.54 and its 200 day simple moving average is $95.38. 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 Inc. has a 12 month low of $63.80 and a 12 month high of $153.20. The firm has a market capitalization of $35.78 billion, a P/E ratio of -25.70 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business had revenue of $2.08 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. CoreWeave's revenue was up 111.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.60) earnings per share. As a group, analysts anticipate that CoreWeave Inc. will post -4.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Jack D. Cogen sold 986,540 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 1,125,000 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $115.93, for a total transaction of $130,421,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 24,130,539 shares of company stock valued at $2,824,785,086. 24.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRWV shares. Citigroup increased their price target on CoreWeave from $155.00 to $158.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of CoreWeave in a report on Thursday, July 2nd. Wolfe Research reiterated an "outperform" rating on shares of CoreWeave in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Finally, Truist Financial raised their price target on shares of CoreWeave from $85.00 to $131.00 and gave the company a "hold" rating in a research report on Friday, May 8th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.73.

About CoreWeave

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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