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Gulf International Bank UK Ltd Makes New $678,000 Investment in CoreWeave Inc. $CRWV

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Key Points

  • Gulf International Bank UK Ltd disclosed a new fourth-quarter position in CoreWeave, buying 9,472 shares worth about $678,000.
  • CoreWeave’s stock was up 2.5% and opened at $109.53, while the company now carries a $49.02 billion market cap and remains highly volatile with a beta of 7.84.
  • The company reported strong revenue growth of 111.6% year over year to $2.08 billion, but it still posted a loss of $1.40 per share and insiders have been selling heavily, which may weigh on sentiment.
  • MarketBeat previews the top five stocks to own by June 1st.

Gulf International Bank UK Ltd acquired a new stake in CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,472 shares of the company's stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Koss Olinger Consulting LLC purchased a new position in shares of CoreWeave in the 4th quarter worth approximately $2,149,000. Eurizon Capital SGR S.p.A. bought a new stake in CoreWeave in the fourth quarter worth $270,000. National Pension Service bought a new stake in CoreWeave in the fourth quarter worth $2,000,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in CoreWeave during the fourth quarter worth $722,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in CoreWeave by 358.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 57,545 shares of the company's stock worth $4,121,000 after buying an additional 44,982 shares during the period.

CoreWeave Stock Up 2.5%

NASDAQ:CRWV opened at $109.53 on Friday. The company has a market cap of $49.02 billion, a price-to-earnings ratio of -35.22 and a beta of 7.84. CoreWeave Inc. has a twelve month low of $63.80 and a twelve month high of $187.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock has a fifty day simple moving average of $102.63 and a 200-day simple moving average of $90.63.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS 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 was up 111.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.60) EPS. Analysts anticipate that CoreWeave Inc. will post -4.57 EPS for the current year.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRWV. DA Davidson reissued a "neutral" rating and issued a $100.00 target price (down from $175.00) on shares of CoreWeave in a research note on Monday, May 18th. Barclays lifted their price target on shares of CoreWeave from $106.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price target on shares of CoreWeave from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Jefferies Financial Group increased their price objective on shares of CoreWeave from $120.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of CoreWeave in a research note on Friday, February 27th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, CoreWeave has an average rating of "Moderate Buy" and an average target price of $129.63.

Read Our Latest Report on CRWV

Insider Buying and Selling

In other news, Director Jack D. Cogen sold 642,307 shares of CoreWeave stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $106.32, for a total transaction of $68,290,080.24. Following the completion of the sale, the director owned 9,040,829 shares of the company's stock, valued at approximately $961,220,939.28. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian M. Venturo sold 76,924 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $102.33, for a total value of $7,871,632.92. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,265,642 shares of company stock worth $3,043,956,040 over the last 90 days.

About CoreWeave

(Free Report)

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.

Read More

Institutional Ownership by Quarter for CoreWeave (NASDAQ:CRWV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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