Farther Finance Advisors LLC Acquires 8,585 Shares of CoreWeave Inc. $CRWV

Farther Finance Advisors LLC raised its stake in shares of CoreWeave Inc. (NASDAQ:CRWV) by 1,560.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,135 shares of the company’s stock after buying an additional 8,585 shares during the quarter. Farther Finance Advisors LLC’s holdings in CoreWeave were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

CoreWeave Price Performance

NASDAQ:CRWV opened at $76.42 on Friday. The firm has a market capitalization of $29.53 billion and a price-to-earnings ratio of -52.70. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $92.68 and a 200-day simple moving average of $115.72. CoreWeave Inc. has a 1 year low of $33.51 and a 1 year high of $187.00.

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

Insider Activity

In other news, insider Brannin Mcbee sold 102,835 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $85.30, for a total value of $8,771,825.50. Following the completion of the sale, the insider owned 185,181 shares in the company, valued at approximately $15,795,939.30. This trade represents a 35.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael N. Intrator sold 32,455 shares of CoreWeave stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $65.47, for a total transaction of $2,124,828.85. Following the transaction, the chief executive officer directly owned 5,893,690 shares of the company’s stock, valued at approximately $385,859,884.30. This represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,769,114 shares of company stock valued at $2,501,681,063.

Wall Street Analyst Weigh In

CRWV has been the topic of a number of research analyst reports. Citigroup reiterated a “buy” rating and issued a $135.00 target price (down from $192.00) on shares of CoreWeave in a research report on Friday, December 19th. Barclays reduced their price objective on CoreWeave from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Bank of America decreased their price objective on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. The Goldman Sachs Group cut their target price on shares of CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, CoreWeave presently has a consensus rating of “Hold” and an average target price of $127.70.

About CoreWeave

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.