Truist Financial Corp Acquires New Stake in CoreWeave Inc. $CRWV

Key Points

• Truist Financial Corp acquired a new stake in CoreWeave Inc., purchasing 15,712 shares valued at approximately $2.56 million in the second quarter.
• Major shareholder Magnetar Financial sold over 1.45 million shares of CoreWeave, reducing their position by nearly 80% and raising concerns about insider activity.
• CoreWeave recently reported quarterly earnings that missed estimates, but their revenue increased by 206.7% compared to the same quarter last year.

Truist Financial Corp acquired a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,712 shares of the company's stock, valued at approximately $2,562,000.

Several other large investors have also recently added to or reduced their stakes in CRWV. Western Pacific Wealth Management LP purchased a new position in CoreWeave during the second quarter worth about $82,000. Webster Bank N. A. purchased a new position in CoreWeave during the second quarter worth about $82,000. Farther Finance Advisors LLC purchased a new position in CoreWeave during the second quarter worth about $90,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in CoreWeave during the second quarter worth about $117,000. Finally, Albion Financial Group UT purchased a new position in CoreWeave during the second quarter worth about $163,000.

Insider Activity

In related news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the completion of the transaction, the insider owned 363,631 shares of the company's stock, valued at approximately $45,672,053.60. The trade was a 79.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack D. Cogen sold 1,112,004 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total value of $105,295,658.76. Following the transaction, the director directly owned 12,329,676 shares of the company's stock, valued at $1,167,497,020.44. This represents a 8.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,422,319 shares of company stock valued at $3,009,610,759 in the last three months.

CoreWeave Trading Up 2.2%

Shares of NASDAQ:CRWV opened at $143.08 on Friday. CoreWeave Inc. has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. 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 50-day moving average of $114.11 and a two-hundred day moving average of $105.57.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.21 million during the quarter. The business's revenue for the quarter 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.

Analysts Set New Price Targets

A number of research firms have recently commented on CRWV. Arete Research upgraded CoreWeave from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Weiss Ratings restated a "sell (d)" rating on shares of CoreWeave in a research note on Saturday, September 27th. Citizens Jmp upgraded CoreWeave from a "market perform" rating to an "outperform" rating and set a $180.00 target price for the company in a research report on Tuesday, September 16th. Bank of America cut their price target on CoreWeave from $185.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Finally, HC Wainwright raised CoreWeave from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.64.

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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