Hsbc Holdings PLC Increases Holdings in CoreWeave Inc. $CRWV

Key Points

• HSBC Holdings PLC significantly boosted its CoreWeave stake by 6,497% in the fourth quarter, ending with 425,970 shares valued at about $30.6 million.
• Wall Street remains broadly positive on CRWV, with 21 Buy ratings, 12 Hold ratings, and an average analyst price target of $135, even as some firms trimmed or adjusted targets recently.
• CoreWeave reported strong revenue growth but continued losses, posting $2.08 billion in quarterly revenue, up 111.6% year over year, while EPS came in at -$1.40, missing estimates.

Hsbc Holdings PLC grew its stake in CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 6,497.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,970 shares of the company's stock after acquiring an additional 419,513 shares during the quarter. Hsbc Holdings PLC owned 0.10% of CoreWeave worth $30,574,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CRWV. Cornerstone Planning Group LLC raised its position in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 251 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in CoreWeave in the 3rd quarter worth about $27,000. Cullen Frost Bankers Inc. grew its position in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in CoreWeave during the 4th quarter valued at about $28,000. Finally, Highline Wealth Partners LLC bought a new stake in CoreWeave during the 4th quarter valued at about $32,000.

Wall Street Analyst Weigh In

CRWV has been the subject of several recent analyst reports. Barclays lifted their target price on shares of CoreWeave from $106.00 to $120.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Wells Fargo & Company raised their price target on shares of CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Oppenheimer boosted their price objective on shares of CoreWeave from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Roth Mkm reiterated a "buy" rating and set a $150.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Twenty-one analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $135.00.

CoreWeave Stock Performance

Shares of NASDAQ CRWV opened at $86.46 on Tuesday. The firm's 50-day moving average price is $106.86 and its 200-day moving average price is $94.98. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $163.66.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company 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%. The firm's revenue was up 111.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.60) earnings per share. As a group, equities analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Brian M. Venturo sold 76,912 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total value of $6,690,574.88. Following the transaction, the insider directly owned 283,985 shares in the company, valued at $24,703,855.15. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 56,707 shares of CoreWeave stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $95.69, for a total value of $5,426,292.83. Following the completion of the sale, the insider directly owned 323,263 shares of the company's stock, valued at $30,933,036.47. The trade was a 14.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 25,812,227 shares of company stock valued at $3,028,961,468.

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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