Moore Capital Management LP Makes New Investment in CoreWeave Inc. $CRWV

Key Points

• Moore Capital Management opened a new position in CoreWeave in Q3, buying 167,520 shares valued at approximately $22.93 million, according to the firm's latest 13F filing.
• CoreWeave reported revenue of $1.57 billion (up 110.4% YoY) but remains unprofitable, posting EPS of ($0.89) (missing the ($0.61) estimate) with a negative net margin of 22.75% and ROE of -33.82%.
• Insiders have sold heavily (about 4.55 million shares worth ~$384.6 million over the last 90 days, including CEO and other executives), while analysts hold a consensus "Moderate Buy" rating with an average target price of $122.35.

Moore Capital Management LP bought a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 167,520 shares of the company's stock, valued at approximately $22,925,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Chilton Capital Management LLC lifted its position in CoreWeave by 50.2% during the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company's stock worth $50,000 after buying an additional 121 shares in the last quarter. Family Legacy Financial Solutions LLC increased its position in CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company's stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. CoreCap Advisors LLC increased its position in CoreWeave by 29.6% in the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company's stock valued at $88,000 after acquiring an additional 147 shares in the last quarter. Pittenger & Anderson Inc. raised its stake in shares of CoreWeave by 36.0% in the third quarter. Pittenger & Anderson Inc. now owns 680 shares of the company's stock worth $93,000 after acquiring an additional 180 shares during the last quarter. Finally, Banco Santander S.A. raised its stake in shares of CoreWeave by 7.9% in the third quarter. Banco Santander S.A. now owns 2,455 shares of the company's stock worth $336,000 after acquiring an additional 180 shares during the last quarter.

CoreWeave Trading Up 5.9%

CRWV opened at $85.86 on Tuesday. The firm's fifty day moving average is $89.07 and its two-hundred day moving average is $98.14. The firm has a market cap of $35.98 billion and a PE ratio of -26.83. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results 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 revenue for the quarter was up 110.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRWV. Citizens Jmp reissued a "market outperform" rating and set a $180.00 price target on shares of CoreWeave in a research note on Friday, February 27th. Citigroup dropped their price objective on shares of CoreWeave from $135.00 to $126.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of CoreWeave in a report on Friday, February 27th. Jefferies Financial Group decreased their price objective on CoreWeave from $155.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, January 5th. Finally, The Goldman Sachs Group initiated coverage on CoreWeave in a research note on Monday, January 12th. They issued a "neutral" rating and a $86.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.35.

Insiders Place Their Bets

In other CoreWeave news, CEO Michael N. Intrator sold 111,427 shares of the business's stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $72.39, for a total value of $8,066,200.53. Following the completion of the transaction, the chief executive officer directly owned 5,922,620 shares of the company's stock, valued at approximately $428,738,461.80. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 281,250 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $79.36, for a total value of $22,320,000.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,549,568 shares of company stock worth $384,597,724.

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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