Mirae Asset Global Investments Co. Ltd. Purchases 26,907 Shares of CoreWeave Inc. $CRWV

Key Points

• Mirae Asset Global Investments boosted its stake in CoreWeave by 67.2%, buying 26,907 shares to hold 66,947 shares valued at about $4.79 million at quarter-end.
• Insiders and major shareholders sold heavily last quarter — insiders disposed of 10,761,619 shares worth roughly $1.02 billion, including Brannin McBee's 300,000-share sale (~$21.78M) and Magnetar's 1,404,667-share sale (~$166.17M).
• CoreWeave delivered strong top-line growth with revenue up 110.4% YoY to $1.57 billion, but remains unprofitable (EPS -$0.89) with negative margins and a negative P/E.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 67.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,947 shares of the company's stock after purchasing an additional 26,907 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in CoreWeave were worth $4,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighMark Wealth Management LLC bought a new stake in CoreWeave during the third quarter worth about $27,000. OLD Second National Bank of Aurora bought a new position in shares of CoreWeave in the third quarter worth about $27,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of CoreWeave in the third quarter worth about $27,000. Aspect Partners LLC bought a new position in shares of CoreWeave in the third quarter worth about $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CoreWeave in the third quarter worth about $30,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRWV shares. Jefferies Financial Group dropped their target price on shares of CoreWeave from $155.00 to $120.00 and set a "buy" rating for the company in a report on Monday, January 5th. Mizuho increased their target price on shares of CoreWeave from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. DA Davidson increased their target price on shares of CoreWeave from $125.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Oppenheimer started coverage on shares of CoreWeave in a report on Friday, March 6th. They issued an "outperform" rating and a $140.00 target price for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of CoreWeave in a report on Friday, February 27th. Twenty research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $125.16.

CoreWeave Stock Performance

CoreWeave stock opened at $115.16 on Wednesday. The business has a 50 day moving average of $89.34 and a 200-day moving average of $93.68. CoreWeave Inc. has a 1 year low of $36.00 and a 1 year high of $187.00. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market capitalization of $48.26 billion and a P/E ratio of -35.99.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The firm had revenue of $1.57 billion during the quarter. CoreWeave's quarterly revenue was up 110.4% on a year-over-year basis. On average, equities research analysts predict that CoreWeave Inc. will post -4.16 earnings per share for the current year.

Insider Activity

In other news, insider Brannin Mcbee sold 300,000 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $72.61, for a total value of $21,783,000.00. Following the completion of the transaction, the insider owned 248,664 shares of the company's stock, valued at $18,055,493.04. This represents a 54.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total value of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares of the company's stock, valued at $33,428,031. This represents a 83.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,761,619 shares of company stock valued at $1,020,774,450 over the last quarter.

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.

Want to see what other hedge funds are holding CRWV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoreWeave Inc. (NASDAQ:CRWV - Free Report).

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.