CoreWeave Inc. $CRWV Stock Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of CoreWeave Inc. (NASDAQ:CRWV) by 19.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,104 shares of the company’s stock after purchasing an additional 9,271 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CoreWeave were worth $4,975,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Essential Partners LLC bought a new position in CoreWeave in the 2nd quarter worth $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in CoreWeave by 241.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 307 shares of the company’s stock valued at $27,000 after acquiring an additional 217 shares during the period. Burnham & Co LLC bought a new stake in CoreWeave during the second quarter valued at about $32,000. Cassaday & Co Wealth Management LLC bought a new stake in CoreWeave during the first quarter valued at about $31,000. Finally, Allied Private Wealth LLC purchased a new position in shares of CoreWeave in the second quarter valued at about $40,000.

CoreWeave Stock Performance

CoreWeave stock opened at $55.60 on Friday. The firm’s fifty day moving average is $83.97 and its 200 day moving average is $94.04. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. CoreWeave Inc. has a 52-week low of $53.50 and a 52-week high of $141.79.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.38. The business had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. CoreWeave’s revenue for the quarter was up 112.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.27) EPS. As a group, equities research analysts predict that CoreWeave Inc. will post -4.95 EPS for the current fiscal year.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Growth outlook remains strong. Bank of America maintained its Buy rating and $140 price target, forecasting third-quarter revenue growth of 168% year over year as new data-center capacity comes online. CoreWeave capacity expansion to drive revenue growth, Bank of America says
• Positive Sentiment: Some industry executives and analysts remain constructive. Blackstone’s Jon Gray said CoreWeave can “find a way through” its financing challenges, while Nvidia CEO Jensen Huang and SpaceX-related commentary supported the view that demand for AI computing remains durable. One analyst also disclosed adding to a CoreWeave position. Blackstone’s Jon Gray says CoreWeave can find a way through financing pressure
• Neutral Sentiment: Analyst views are sharply divided. While Bernstein became more bearish and cut its price target, other analysts continue to argue that the stock may be approaching fair value after a major decline. This disagreement is likely to keep CRWV highly volatile ahead of third-quarter results expected in early November. Wall Street’s big CoreWeave stock bear is now even more bearish
• Negative Sentiment: Financing concerns are driving the selloff. Bernstein estimated CoreWeave could face a $76 billion funding gap—more than triple Goldman Sachs’ estimate—raising questions about how the company will fund its planned infrastructure buildout. Bernstein puts CoreWeave’s funding gap at $76 billion
• Negative Sentiment: Credit-market stress has intensified. CoreWeave’s bonds have moved into distressed territory, credit-default-swap spreads reportedly exceeded 1,000 basis points, and debt due in 2032 traded at a yield as high as 9.625%. Investors fear expensive refinancing, weaker liquidity and the possibility that debt-funded growth may not generate returns quickly enough. The Neocloud Bloodbath: NBIS, IREN, and CRWV Selloff Continues

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRWV. Mizuho dropped their price objective on CoreWeave from $115.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Barclays increased their target price on CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a research note on Monday, September 21st. Truist Financial boosted their price target on CoreWeave from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of CoreWeave in a report on Monday. Twenty-five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Insider Activity

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 307,131 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.75, for a total transaction of $33,400,496.25. Following the sale, the insider directly owned 220,810 shares of the company’s stock, valued at $24,013,087.50. The trade was a 58.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael N. Intrator sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $66.62, for a total value of $13,324,000.00. Following the completion of the sale, the chief executive officer directly owned 2,276,815 shares of the company’s stock, valued at $151,681,415.30. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 5,352,578 shares of company stock valued at $471,777,344. 24.20% of the stock is currently owned by company insiders.

CoreWeave Profile

CoreWeave, Inc is a specialized cloud computing company that provides infrastructure designed for artificial intelligence (AI), machine learning, and other high-performance computing workloads. Its platform gives customers access to accelerated computing resources, including graphics processing units (GPUs), along with the networking, storage, and software tools needed to develop, train, and deploy demanding applications.

The company offers cloud services for AI model training and inference, visual effects and rendering, scientific computing, and other data-intensive workloads.