Amova Asset Management Americas Inc. Buys 247,470 Shares of CoreWeave Inc. $CRWV

Amova Asset Management Americas Inc. boosted its stake in CoreWeave Inc. (NASDAQ:CRWV) by 28.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,123,843 shares of the company’s stock after buying an additional 247,470 shares during the period. CoreWeave accounts for approximately 1.2% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 27th largest position. Amova Asset Management Americas Inc.’s holdings in CoreWeave were worth $86,997,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new stake in shares of CoreWeave during the second quarter valued at approximately $39,824,000. Quantbot Technologies LP bought a new position in CoreWeave in the second quarter worth $311,000. Invesco Ltd. purchased a new position in CoreWeave during the second quarter valued at $882,000. First Trust Advisors LP bought a new stake in shares of CoreWeave during the 2nd quarter valued at $20,260,000. Finally, Baird Financial Group Inc. bought a new stake in shares of CoreWeave during the 2nd quarter valued at $455,000.

Analysts Set New Price Targets

CRWV has been the subject of several research reports. Sanford C. Bernstein reiterated an “underperform” rating on shares of CoreWeave in a research note on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $150.00 price objective on shares of CoreWeave in a research note on Wednesday, April 15th. Truist Financial upped their price objective on shares of CoreWeave from $85.00 to $131.00 and gave the stock a “hold” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Barclays lifted their target price on shares of CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

Insider Activity at CoreWeave

In other CoreWeave news, CEO Michael N. Intrator sold 61,797 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the transaction, the chief executive officer owned 2,876,815 shares in the company, valued at approximately $250,110,296.10. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 53,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $86.13, for a total transaction of $4,564,890.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,885,161 shares of company stock valued at $2,326,801,573 over the last ninety days. Insiders own 24.20% of the company’s stock.

CoreWeave Stock Performance

CRWV stock opened at $73.06 on Tuesday. The stock’s 50 day simple moving average is $99.55 and its 200 day simple moving average is $95.33. 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 12-month low of $63.80 and a 12-month high of $153.20. The stock has a market capitalization of $32.70 billion, a PE ratio of -23.49 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Thursday, May 7th. The company reported ($1.40) 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 business had revenue of $2.08 billion during the quarter. During the same period last year, the firm posted ($0.60) earnings per share. The company’s quarterly revenue was up 111.6% on a year-over-year basis. As a group, research analysts forecast that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

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.