PNC Financial Services Group Inc. Acquires 38,205 Shares of CoreWeave Inc. $CRWV

Key Points

• PNC Financial Services increased its CoreWeave stake by 248.9% in the fourth quarter, buying 38,205 additional shares and bringing its total holdings to 53,556 shares worth about $3.84 million.
• Several other institutional investors also sharply expanded their CoreWeave positions, with large additions from Vanguard, Proficio Capital Partners, and Invesco highlighting strong institutional interest in the stock.
• CoreWeave has attracted bullish attention from analysts and news flow, including a $3.1 billion HPC loan, inclusion in the Russell 3000, and rating upgrades such as Macquarie’s move to outperform.

PNC Financial Services Group Inc. raised its holdings in CoreWeave Inc. (NASDAQ:CRWV - Free Report) by 248.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,556 shares of the company's stock after purchasing an additional 38,205 shares during the period. PNC Financial Services Group Inc.'s holdings in CoreWeave were worth $3,835,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock valued at $2,443,013,000 after buying an additional 17,847,760 shares in the last quarter. Invesco Ltd. raised its position in shares of CoreWeave by 55,329.7% in the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company's stock valued at $410,454,000 after buying an additional 2,993,889 shares in the last quarter. Clear Street Group Inc. acquired a new position in shares of CoreWeave in the 3rd quarter valued at approximately $405,199,000. Finally, Lavaca Capital LLC acquired a new position in shares of CoreWeave in the 3rd quarter valued at approximately $273,700,000.

Analyst Ratings Changes

Several brokerages have recently commented on CRWV. Wells Fargo & Company boosted their target price 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. Bank of America upgraded shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Tuesday, March 24th. Sanford C. Bernstein upped their price objective on shares of CoreWeave from $56.00 to $67.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 14th. Jefferies Financial Group upped 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, Citizens Jmp reiterated a "market outperform" rating and set a $180.00 price objective on shares of CoreWeave in a research report on Friday, February 27th. Nineteen research 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.63.

Insider Activity at CoreWeave

In other news, insider Brian M. Venturo sold 5,887 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $99.82, for a total transaction of $587,640.34. Following the completion of the sale, the insider directly owned 229,079 shares in the company, valued at $22,866,665.78. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 Kristen J. Mcveety sold 3,833 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $99.82, for a total transaction of $382,610.06. Following the sale, the insider owned 123,961 shares of the company's stock, valued at approximately $12,373,787.02. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 25,217,073 shares of company stock valued at $2,824,592,756 over the last 90 days.

Key CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave closed a $3.1 billion HPC loan backed by its high-performance computing infrastructure, giving it more capital to fund AI data-center growth and reinforcing confidence in its funding access. CoreWeave’s $3.1b HPC Loan And Russell 3000 Entry Reshape Funding Story
• Positive Sentiment: CoreWeave’s inclusion in the Russell 3000 adds index-related visibility and could support additional buying from passive funds. CoreWeave’s $3.1b HPC Loan And Russell 3000 Entry Reshape Funding Story
• Positive Sentiment: Macquarie upgraded CoreWeave to outperform, and the stock also drew attention from bullish commentary tying it to broader AI infrastructure demand and “AI empire” investment themes. CoreWeave climbs on recent deals; Macquarie upgrades stock to outperform SpaceX Gets the Attention, But These 4 Stocks Could Get the Returns (CRWV)

CoreWeave Stock Performance

CRWV opened at $105.49 on Tuesday. CoreWeave Inc. has a twelve month low of $63.80 and a twelve month high of $187.00. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a fifty day moving average of $100.73 and a 200-day moving average of $90.55. The stock has a market cap of $47.21 billion, a PE ratio of -33.92 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $1.57 billion for the quarter. The firm's revenue was up 110.4% compared to the same quarter last year. On average, sell-side analysts predict that CoreWeave Inc. will post -4.58 EPS for the current year.

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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