Sapphire Ventures L.L.C. Acquires Shares of 28,841 CoreWeave Inc. $CRWV

Key Points

• Sapphire Ventures bought 28,841 shares of CoreWeave (CRWV) in Q2 — a ~$4.7M new position that represents 5.2% of its portfolio and is its fourth-largest holding.
• CoreWeave beat Q3 expectations with revenue of $1.36B (vs. $1.28B est.) and EPS of ($0.22) (vs. ($0.36) est.), with revenue up 133.7% year‑over‑year.
• Major shareholder Magnetar sold 1,451,063 shares at an average $125.60 (~$182.3M), and insiders sold roughly 30.0M shares worth about $3.93B in the last quarter, indicating significant insider selling.

Sapphire Ventures L.L.C. bought a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,841 shares of the company's stock, valued at approximately $4,703,000. CoreWeave accounts for 5.2% of Sapphire Ventures L.L.C.'s portfolio, making the stock its 4th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRWV. Gamco Investors INC. ET AL bought a new stake in shares of CoreWeave during the first quarter valued at approximately $318,000. Goldman Sachs Group Inc. purchased a new position in CoreWeave during the first quarter valued at $963,000. Howard Financial Services LTD. bought a new stake in shares of CoreWeave during the 2nd quarter valued at $489,000. McAlister Sweet & Associates Inc. bought a new position in shares of CoreWeave in the 2nd quarter worth about $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in CoreWeave during the 2nd quarter valued at about $117,000.

CoreWeave Stock Performance

Shares of CRWV opened at $79.36 on Thursday. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00. The business's fifty day simple moving average is $111.33 and its two-hundred day simple moving average is $120.68. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The company has a market cap of $30.66 billion and a price-to-earnings ratio of -54.73.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company earned ($1.82) earnings per share. The company's revenue for the quarter was up 133.7% compared to the same quarter last year.

Insider Transactions at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the firm's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the sale, the insider owned 363,631 shares of the company's stock, valued at $45,672,053.60. This trade represents a 79.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 30,008,034 shares of company stock worth $3,929,020,631.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRWV. DA Davidson restated an "underperform" rating and issued a $36.00 price objective on shares of CoreWeave in a report on Tuesday, November 11th. Stifel Nicolaus set a $120.00 price target on CoreWeave in a research note on Tuesday, November 11th. Melius upgraded CoreWeave from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Tuesday, September 23rd. Jefferies Financial Group dropped their target price on CoreWeave from $180.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, November 11th. Finally, The Goldman Sachs Group reduced their price target on CoreWeave from $120.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, CoreWeave has a consensus rating of "Moderate Buy" and an average price target of $130.14.

CoreWeave Company 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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