QRG Capital Management Inc. Purchases Shares of 20,118 CoreWeave Inc. $CRWV

Key Points

• QRG Capital Management opened a new position in CoreWeave during the first quarter, buying 20,118 shares valued at about $1.56 million.
• Other institutional investors also added to CoreWeave, while insiders have been selling heavily; CEO Michael N. Intrator and insider Brannin Mcbee both made large June 30 sales under pre-arranged 10b5-1 plans.
• Analysts remain mostly constructive, with 21 Buy ratings and an average Moderate Buy rating, but CoreWeave is facing pressure from concerns that Meta’s cloud and AI compute push could intensify competition.

QRG Capital Management Inc. acquired a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,118 shares of the company's stock, valued at approximately $1,559,000.

Several other institutional investors and hedge funds have also modified their holdings of CRWV. Sivia Capital Partners LLC acquired a new position in CoreWeave in the second quarter valued at approximately $39,824,000. Quantbot Technologies LP purchased a new position in shares of CoreWeave during the 2nd quarter valued at approximately $311,000. Invesco Ltd. acquired a new position in shares of CoreWeave in the 2nd quarter valued at $882,000. First Trust Advisors LP acquired a new position in shares of CoreWeave in the 2nd quarter valued at $20,260,000. Finally, Baird Financial Group Inc. purchased a new stake in CoreWeave during the second quarter worth $455,000.

Insider Transactions at CoreWeave

In other CoreWeave news, insider Brannin Mcbee sold 56,707 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $95.69, for a total transaction of $5,426,292.83. Following the completion of the sale, the insider owned 323,263 shares of the company's stock, valued at $30,933,036.47. This trade represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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, CEO Michael N. Intrator sold 278,560 shares of CoreWeave stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $97.43, for a total value of $27,140,100.80. Following the completion of the sale, the chief executive officer owned 3,138,612 shares in the company, valued at $305,794,967.16. This represents a 8.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 25,674,357 shares of company stock worth $3,016,622,554 in the last 90 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRWV. Truist Financial upped their target price on CoreWeave from $85.00 to $131.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Barclays boosted their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $135.00 price target on shares of CoreWeave in a research note on Friday, May 8th. Bank of America upgraded CoreWeave from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Tuesday, March 24th. Finally, Wells Fargo & Company lifted their price target on CoreWeave from $135.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $135.00.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

• Negative Sentiment: News that Meta is building a cloud business to sell spare AI computing power has raised fears of increased competition for CoreWeave’s AI infrastructure services, weighing on the stock. CoreWeave stock sinks as Meta enters cloud business
• Negative Sentiment: Several articles framed Meta’s “Meta Compute” initiative as a meaningful threat to CoreWeave, reinforcing worries that hyperscaler competition could pressure growth and pricing. CoreWeave stock sinks as mag 7 move rattles investors
• Negative Sentiment: Analyst commentary also highlighted a fresh valuation test and increased hyperscaler competition, which can make investors more cautious about CoreWeave’s near-term multiple. CoreWeave (CRWV) Faces A Fresh Valuation Test As ARIA Launch Meets A Sharper Pullback
• Neutral Sentiment: On the positive side, some analysts and bullish articles argue the selloff may be overdone, pointing to strong data-center demand, CoreWeave’s expanding capacity, and upside to the stock if execution remains solid. CoreWeave: Why The Selloff Is Wrong (Rating Upgrade)
• Neutral Sentiment: CoreWeave also continues to emphasize product and platform development, including its AI-enabled research agent ARIA, which supports the long-term AI narrative but is not the main driver of today’s trading. CoreWeave (CRWV) Launches AI-Enabled Research Agent, ARIA

CoreWeave Stock Down 3.4%

Shares of NASDAQ:CRWV opened at $83.53 on Wednesday. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $160.42. The stock has a market cap of $37.39 billion, a P/E ratio of -26.86 and a beta of 7.17. The business has a fifty day moving average of $106.32 and a two-hundred day moving average of $95.12. 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 (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $2.08 billion during the quarter. During the same period in the prior year, the company earned ($0.60) earnings per share. The company's revenue for the quarter was up 111.6% compared to the same quarter last year. On average, research analysts expect that CoreWeave Inc. will post -4.57 earnings per share 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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