Hedges Asset Management LLC Takes Position in CoreWeave Inc. $CRWV

Key Points

• Hedges Asset Management LLC has established a new stake in CoreWeave Inc., acquiring 2,400 shares valued at approximately $391,000.
• Major shareholder Magnetar Financial LLC significantly reduced its position by 34.56%, selling 204,416 shares for over $24 million.
• Analysts have mixed ratings on CoreWeave, with a recent price target increase from Morgan Stanley setting it at $91.00, while Argus maintains a bullish $200.00 price objective.

Hedges Asset Management LLC bought a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,400 shares of the company's stock, valued at approximately $391,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fox Hill Wealth Management bought a new stake in shares of CoreWeave during the second quarter valued at approximately $858,000. Wesbanco Bank Inc. bought a new position in shares of CoreWeave in the 2nd quarter worth approximately $212,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CoreWeave in the 2nd quarter worth $117,000. McAlister Sweet & Associates Inc. purchased a new position in shares of CoreWeave during the 2nd quarter valued at about $277,000. Finally, Howard Financial Services LTD. bought a new position in shares of CoreWeave in the second quarter worth approximately $489,000.

Insiders Place Their Bets

In related news, insider Brannin Mcbee sold 375,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $91.71, for a total value of $34,391,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 915,382 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $100.15, for a total transaction of $91,675,507.30. Following the transaction, the insider directly owned 397,757 shares of the company's stock, valued at approximately $39,835,363.55. This represents a 69.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,768,534 shares of company stock worth $974,154,272.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CRWV shares. HSBC initiated coverage on shares of CoreWeave in a research report on Wednesday, July 16th. They set a "reduce" rating and a $32.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of CoreWeave from $60.00 to $105.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. DA Davidson reiterated an "underperform" rating and issued a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. Argus reiterated a "buy" rating and set a $200.00 price objective on shares of CoreWeave in a report on Thursday, August 14th. Finally, Arete raised shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $180.00 price target for the company in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $108.43.

CoreWeave Trading Up 7.6%

Shares of CoreWeave stock traded up $8.51 during trading hours on Monday, reaching $120.47. The stock had a trading volume of 37,414,962 shares, compared to its average volume of 28,733,280. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52. The company's 50 day simple moving average is $113.05. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The firm had revenue of $1.21 million during the quarter. The firm's revenue for the quarter was up 206.7% compared to the same quarter last year. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.