Bank of New York Mellon Corp Grows Stake in CoreWeave Inc. $CRWV

Bank of New York Mellon Corp lifted its position in CoreWeave Inc. (NASDAQ:CRWV) by 12.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 353,702 shares of the company’s stock after buying an additional 39,599 shares during the period. Bank of New York Mellon Corp’s holdings in CoreWeave were worth $27,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CRWV. Vanguard Group Inc. raised its holdings in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after purchasing an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC raised its stake 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. Clear Street Group Inc. lifted its holdings in shares of CoreWeave by 57.2% during the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock worth $333,260,000 after purchasing an additional 1,692,916 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of CoreWeave by 300.0% in the 4th 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. Finally, Deutsche Bank AG grew its position in CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock worth $273,039,000 after purchasing an additional 3,796,077 shares during the period.

CoreWeave Stock Down 1.5%

Shares of CoreWeave stock opened at $70.79 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a 50 day moving average of $96.38 and a 200 day moving average of $95.39. The company has a market capitalization of $31.68 billion, a P/E ratio of -22.76 and a beta of 7.17. CoreWeave Inc. has a 52-week low of $63.80 and a 52-week high of $153.20.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business had revenue of $2.08 billion during the quarter. During the same quarter in the previous year, the company posted ($0.60) EPS. CoreWeave’s quarterly revenue was up 111.6% compared to the same quarter last year. As a group, research analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRWV. Roth Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of CoreWeave in a report on Friday, May 8th. Truist Financial upgraded CoreWeave from a “hold” rating to a “buy” rating and dropped their price target for the stock from $131.00 to $126.00 in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on shares of CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $135.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Finally, Raymond James Financial downgraded CoreWeave from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, Director Jack D. Cogen sold 986,540 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $107.80, for a total transaction of $106,349,012.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 1,284,876 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $119.91, for a total transaction of $154,069,481.16. Following the transaction, the insider owned 264,061 shares in the company, valued at approximately $31,663,554.51. This trade represents a 82.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,049,177 shares of company stock worth $1,872,383,030 over the last 90 days. Corporate insiders own 24.20% of the company’s stock.

CoreWeave Company 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.