Rockefeller Capital Management L.P. Buys New Position in CoreWeave Inc. $CRWV

Key Points

• Rockefeller Capital Management initiated a new position in CoreWeave in Q2, buying 49,239 shares worth about $8.03 million, while several other institutions added smaller stakes.
• CoreWeave beat recent quarterly estimates with ($0.22) EPS vs. ($0.36) expected and revenue of $1.36 billion (up 133.7% YoY), but the stock is trading down ~7.6% and the company shows weak liquidity (quick/current ratio 0.49) and a negative P/E.
• Heavy insider selling has occurred recently—including large sales by SVP Chen Goldberg and co-founder Brian Venturo—and analysts are mixed, with a consensus "Moderate Buy" rating and a $130.14 average target after several price-target cuts.

Rockefeller Capital Management L.P. purchased a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 49,239 shares of the company's stock, valued at approximately $8,029,000.

Other institutional investors have also modified their holdings of the company. Chelsea Counsel Co. acquired a new stake in CoreWeave during the second quarter worth approximately $33,000. Chilton Capital Management LLC purchased a new position in shares of CoreWeave during the 2nd quarter worth $39,000. Montag A & Associates Inc. acquired a new stake in shares of CoreWeave during the second quarter worth $49,000. SOA Wealth Advisors LLC. boosted its holdings in shares of CoreWeave by 275.0% during the second quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company's stock worth $61,000 after purchasing an additional 275 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of CoreWeave in the second quarter valued at $61,000.

CoreWeave Trading Down 7.6%

Shares of CRWV stock opened at $69.21 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. CoreWeave Inc. has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. The firm's 50 day moving average price is $120.23 and its two-hundred day moving average price is $119.36. The stock has a market cap of $26.74 billion and a price-to-earnings ratio of -47.73.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. CoreWeave's revenue was up 133.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.82) EPS. CoreWeave has set its FY 2025 guidance at EPS.

Insider Buying and Selling

In other news, SVP Chen Goldberg sold 13,740 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $90.79, for a total value of $1,247,454.60. Following the completion of the sale, the senior vice president owned 23,344 shares in the company, valued at approximately $2,119,401.76. This trade represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian M. Venturo sold 281,250 shares of the business's stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $87.57, for a total value of $24,629,062.50. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,595,006 shares of company stock valued at $4,282,555,133 in the last 90 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRWV shares. Barclays reduced their target price on CoreWeave from $140.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 12th. Jefferies Financial Group decreased their target price on shares of CoreWeave from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. DA Davidson restated an "underperform" rating and issued a $36.00 target price on shares of CoreWeave in a report on Tuesday, November 11th. Mizuho cut their price target on shares of CoreWeave from $150.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 11th. Finally, Evercore ISI decreased their price target on shares of CoreWeave from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.14.

CoreWeave Profile

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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