Cardinal Point Capital Management ULC Takes Position in CoreWeave Inc. $CRWV

Cardinal Point Capital Management ULC bought a new position in CoreWeave Inc. (NASDAQ:CRWV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,200 shares of the company’s stock, valued at approximately $403,000.

Several other hedge funds also recently made changes to their positions in CRWV. Vanguard Group Inc. boosted its position in CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares during the period. Proficio Capital Partners LLC grew its holdings in CoreWeave by 446,194.0% in the 3rd 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. Deutsche Bank AG increased its position in shares of CoreWeave by 22,624.0% in the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after acquiring an additional 3,796,077 shares during the period. Altimeter Capital Management LP purchased a new position in shares of CoreWeave in the fourth quarter valued at about $230,099,000. Finally, Alyeska Investment Group L.P. raised its stake in shares of CoreWeave by 300.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after acquiring an additional 3,000,000 shares during the last quarter.

CoreWeave Trading Down 2.1%

Shares of CRWV opened at $98.76 on Friday. The firm’s 50-day moving average price is $110.86 and its 200-day moving average price is $94.60. The firm has a market capitalization of $44.20 billion, a price-to-earnings ratio of -31.76 and a beta of 7.14. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. CoreWeave Inc. has a 1-year low of $63.80 and a 1-year high of $173.35.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company had revenue of $2.08 billion during the quarter. During the same period in the prior year, the firm posted ($0.60) earnings per share. CoreWeave’s quarterly revenue was up 111.6% compared to the same quarter last year. Sell-side analysts anticipate that CoreWeave Inc. will post -4.83 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRWV shares. DA Davidson reiterated a “neutral” rating and set a $100.00 target price (down from $175.00) on shares of CoreWeave in a report on Monday, May 18th. Citizens Jmp restated a “market outperform” rating and set a $180.00 price target on shares of CoreWeave in a report on Friday, February 27th. Weiss Ratings raised CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Rosenblatt Securities initiated coverage on CoreWeave in a report on Thursday. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Oppenheimer lifted their price objective on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

CoreWeave News Roundup

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage on CoreWeave with a Buy rating and a $250 price target, signaling substantial upside if the company continues executing on growth. Rosenblatt initiates CoreWeave at Buy with $250 target
• Positive Sentiment: CoreWeave announced a partnership with Conapto to expand AI cloud capacity in Stockholm, Sweden, with renewable-powered data center campuses already coming online. That supports the company’s international growth narrative and adds capacity for AI demand. CoreWeave partners with Conapto to expand AI cloud capacity in Sweden

Insiders Place Their Bets

In other news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $118.30, for a total value of $166,172,106.10. Following the completion of the transaction, the insider owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This represents a 83.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack D. Cogen sold 986,540 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total value of $106,349,012.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,380,310 shares of company stock worth $3,217,318,952.

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.