Bank of New York Mellon Corp Acquires Shares of 77,273 CoreWeave Inc. $CRWV

Bank of New York Mellon Corp bought a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 77,273 shares of the company’s stock, valued at approximately $12,600,000.

A number of other large investors have also added to or reduced their stakes in the company. Cisco Systems Inc. purchased a new stake in CoreWeave during the second quarter valued at approximately $173,493,000. Sivia Capital Partners LLC purchased a new position in CoreWeave during the 2nd quarter worth $39,824,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of CoreWeave in the second quarter valued at about $34,284,000. CWM LLC raised its holdings in shares of CoreWeave by 283.0% in the 2nd quarter. CWM LLC now owns 166,663 shares of the company’s stock valued at $27,176,000 after purchasing an additional 123,147 shares in the last quarter. Finally, Carnegie Investment Counsel bought a new position in CoreWeave in the second quarter worth approximately $15,073,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI reduced their target price on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Barclays lowered their price objective on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Compass Point initiated coverage on CoreWeave in a research note on Thursday, November 13th. They set a “buy” rating and a $150.00 price target on the stock. Mizuho cut their price objective on shares of CoreWeave from $150.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of CoreWeave in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave presently has an average rating of “Moderate Buy” and a consensus price target of $130.14.

Insider Transactions at CoreWeave

In other news, SVP Chen Goldberg sold 13,740 shares of CoreWeave stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $90.79, for a total transaction of $1,247,454.60. Following the completion of the sale, the senior vice president directly owned 23,344 shares of the company’s stock, valued at approximately $2,119,401.76. The trade was a 37.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Magnetar Financial Llc sold 7,688 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $134.94, for a total value of $1,037,418.72. Following the completion of the transaction, the insider owned 299,512 shares in the company, valued at approximately $40,416,149.28. The trade was a 2.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,615,739 shares of company stock worth $4,284,590,906 in the last ninety days.

CoreWeave Stock Down 0.6%

Shares of NASDAQ CRWV opened at $74.90 on Wednesday. The stock has a market cap of $28.94 billion and a PE ratio of -51.66. 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 Inc. has a 12-month low of $33.51 and a 12-month high of $187.00. The company has a 50-day moving average of $121.95 and a 200 day moving average of $120.02.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. The company’s revenue for the quarter was up 133.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.82) EPS. CoreWeave has set its FY 2025 guidance at EPS.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.