Sovereign Financial Group Inc. Takes $915,000 Position in CoreWeave Inc. $CRWV

Key Points

• Sovereign Financial Group Inc. has acquired a $915,000 stake in CoreWeave Inc., purchasing 5,614 shares of the company in the second quarter.
• Multiple institutional investors, including Cisco Systems Inc. and Sivia Capital Partners LLC, have significantly increased their positions in CoreWeave, illustrating strong interest in the company.
• Wall Street analysts are optimistic about CoreWeave's future, with a consensus rating of “Moderate Buy” and an average price target of $127.64 for the stock.

Sovereign Financial Group Inc. bought a new stake in CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,614 shares of the company's stock, valued at approximately $915,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cisco Systems Inc. purchased a new stake in shares of CoreWeave in the second quarter valued at about $173,493,000. Sivia Capital Partners LLC purchased a new position in CoreWeave during the second quarter worth about $39,824,000. Virtus Wealth Solutions LLC purchased a new position in CoreWeave during the second quarter worth about $7,436,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in CoreWeave during the second quarter worth about $6,992,000. Finally, Renaissance Capital LLC purchased a new position in CoreWeave during the second quarter worth about $5,131,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of CoreWeave in a report on Friday, September 19th. They set a "buy" rating and a $165.00 price target for the company. Moffett Nathanson increased their price target on shares of CoreWeave from $56.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Needham & Company LLC reissued a "hold" rating on shares of CoreWeave in a report on Wednesday, August 13th. Morgan Stanley increased their price target on shares of CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised shares of CoreWeave from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $105.00 to $170.00 in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $127.64.

Insider Activity at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 208,207 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $148.80, for a total value of $30,981,201.60. Following the sale, the insider directly owned 950,211 shares in the company, valued at $141,391,396.80. This represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael N. Intrator sold 15,174 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $139.66, for a total transaction of $2,119,200.84. The disclosure for this sale can be found here. Insiders sold 27,601,752 shares of company stock worth $3,317,675,109 over the last quarter.

CoreWeave Price Performance

Shares of CRWV opened at $138.43 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52. The firm's 50-day moving average is $114.79 and its two-hundred day moving average is $105.80. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The business had revenue of $1.21 million for the quarter. The company's revenue for the quarter was up 206.7% on a year-over-year basis. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

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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