Wealthfront Advisers LLC Makes New $788,000 Investment in CoreWeave Inc. $CRWV

Wealthfront Advisers LLC acquired a new position in CoreWeave Inc. (NASDAQ:CRWV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,011 shares of the company’s stock, valued at approximately $788,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Invesco Ltd. raised its position in shares of CoreWeave by 55,329.7% during the third quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after acquiring an additional 2,993,889 shares during the last quarter. Clear Street Group Inc. bought a new stake in shares of CoreWeave during the third quarter worth $405,199,000. Finally, Lavaca Capital LLC bought a new stake in shares of CoreWeave during the third quarter worth $273,700,000.

Insiders Place Their Bets

In related news, insider Jeff Baker sold 6,760 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $107.87, for a total value of $729,201.20. Following the completion of the sale, the insider owned 42,529 shares in the company, valued at approximately $4,587,603.23. This represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brannin Mcbee sold 45,850 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $109.03, for a total value of $4,999,025.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,961,108 shares of company stock valued at $1,878,880,036 in the last ninety days.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRWV. Sanford C. Bernstein boosted their target price on CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 14th. Cantor Fitzgerald boosted their target price on CoreWeave from $149.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Wolfe Research began coverage on CoreWeave in a research report on Thursday, April 16th. They set an “outperform” rating and a $150.00 target price for the company. Citigroup boosted their target price on CoreWeave from $126.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday. Finally, HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of CoreWeave in a research report on Monday, March 2nd. Twenty research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.69.

CoreWeave Stock Performance

NASDAQ CRWV opened at $119.01 on Monday. The stock has a 50-day simple moving average of $91.88 and a 200 day simple moving average of $92.51. The company has a market capitalization of $52.72 billion, a PE ratio of -37.19 and a beta of 7.84. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.46. CoreWeave Inc. has a 12 month low of $45.80 and a 12 month high of $187.00.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The company had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The firm’s quarterly revenue was up 110.4% on a year-over-year basis. Research analysts forecast that CoreWeave Inc. will post -4.15 EPS for the current year.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.