Renaissance Capital LLC Invests $5.13 Million in CoreWeave Inc. $CRWV

Key Points

• Renaissance Capital LLC invested $5.13 million in CoreWeave Inc., acquiring 31,465 shares, which constitutes 3.6% of its holdings, making it their 12th largest position.
• CoreWeave's stock performance has been active with reports indicating an average price target of $125.89 and ratings that range from "Strong Buy" to "Sell" by various analysts.
• Insider trading saw significant sales, including major shareholder Magnetar Financial LLC selling over 1.4 million shares for about $182 million, reflecting a substantial decrease in ownership.

Renaissance Capital LLC acquired a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 31,465 shares of the company's stock, valued at approximately $5,131,000. CoreWeave makes up 3.6% of Renaissance Capital LLC's holdings, making the stock its 12th largest holding.

Other hedge funds have also modified their holdings of the company. Western Pacific Wealth Management LP acquired a new position in shares of CoreWeave in the 2nd quarter worth $82,000. Webster Bank N. A. acquired a new position in shares of CoreWeave during the second quarter valued at about $82,000. Farther Finance Advisors LLC acquired a new position in CoreWeave in the second quarter worth about $90,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CoreWeave during the second quarter worth approximately $117,000. Finally, Albion Financial Group UT bought a new stake in shares of CoreWeave during the second quarter valued at approximately $163,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRWV. Arete Research raised shares of CoreWeave from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Hsbc Global Res upgraded shares of CoreWeave to a "moderate sell" rating in a research note on Thursday, July 17th. Stifel Nicolaus boosted their price objective on shares of CoreWeave from $115.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of CoreWeave in a research note on Wednesday, August 13th. Finally, DA Davidson reiterated an "underperform" rating and issued a $36.00 price target on shares of CoreWeave in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, CoreWeave currently has an average rating of "Moderate Buy" and an average price target of $125.89.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $122.52 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. The business has a fifty day moving average of $110.81. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The business had revenue of $1.21 million for the quarter. The firm's quarterly revenue was up 206.7% compared to the same quarter last year. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Transactions at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of CoreWeave stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $125.60, for a total value of $182,253,512.80. Following the completion of the transaction, the insider owned 363,631 shares in the company, valued at $45,672,053.60. This trade represents a 79.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total transaction of $105,295,658.76. Following the completion of the transaction, the director owned 12,329,676 shares of the company's stock, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,928,066 shares of company stock worth $2,247,880,573 over the last three months.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.

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