Farther Finance Advisors LLC Boosts Stock Position in CoreWeave Inc. $CRWV

Farther Finance Advisors LLC raised its holdings in CoreWeave Inc. (NASDAQ:CRWV) by 1,560.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,135 shares of the company’s stock after buying an additional 8,585 shares during the period. Farther Finance Advisors LLC’s holdings in CoreWeave were worth $1,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. HBK Sorce Advisory LLC purchased a new stake in shares of CoreWeave during the third quarter valued at $259,000. Lake Hills Wealth Management LLC bought a new stake in CoreWeave during the 3rd quarter valued at about $523,000. Sound Income Strategies LLC bought a new stake in CoreWeave during the 3rd quarter valued at about $70,000. Brown Lisle Cummings Inc. purchased a new stake in CoreWeave in the 3rd quarter valued at about $586,000. Finally, Cyndeo Wealth Partners LLC bought a new position in CoreWeave in the 3rd quarter worth about $287,000.

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,149,406 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $139.37, for a total transaction of $160,192,714.22. Following the completion of the sale, the insider directly owned 341,592 shares of the company’s stock, valued at approximately $47,607,677.04. This represents a 77.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 18,769,114 shares of company stock valued at $2,501,681,063 in the last ninety days.

CoreWeave Stock Down 3.1%

Shares of NASDAQ CRWV opened at $76.42 on Friday. CoreWeave Inc. has a 12-month low of $33.51 and a 12-month high of $187.00. The stock’s fifty day simple moving average is $92.68 and its two-hundred day simple moving average is $115.72. The stock has a market capitalization of $29.53 billion and a PE ratio of -52.70. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. The company’s revenue was up 133.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.82) earnings per share.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Roth Capital began coverage on shares of CoreWeave in a research note on Thursday, December 4th. They set a “buy” rating and a $110.00 price target for the company. Citigroup restated a “buy” rating and set a $135.00 price objective (down from $192.00) on shares of CoreWeave in a report on Friday, December 19th. Stifel Nicolaus set a $120.00 target price on CoreWeave in a report on Tuesday, November 11th. Jefferies Financial Group dropped their price target on CoreWeave from $180.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, DA Davidson restated an “underperform” rating and issued a $36.00 price objective on shares of CoreWeave in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $127.70.

CoreWeave Profile

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.