Amova Asset Management Americas Inc. Has $87 Million Stake in CoreWeave Inc. $CRWV

Amova Asset Management Americas Inc. increased its position in shares of CoreWeave Inc. (NASDAQ:CRWV) by 28.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,123,843 shares of the company’s stock after acquiring an additional 247,470 shares during the period. CoreWeave comprises about 1.2% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 27th biggest position. Amova Asset Management Americas Inc. owned about 0.25% of CoreWeave worth $86,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CoreWeave by 6,022.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock worth $8,075,000 after acquiring an additional 110,926 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of CoreWeave by 8,455.6% in the 4th quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock valued at $43,775,000 after acquiring an additional 604,156 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock valued at $4,794,000 after acquiring an additional 26,907 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd bought a new stake in shares of CoreWeave during the 4th quarter valued at about $15,539,000.

Insider Transactions at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 1,284,876 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $119.91, for a total transaction of $154,069,481.16. Following the completion of the sale, the insider directly owned 264,061 shares in the company, valued at approximately $31,663,554.51. This represents a 82.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack D. Cogen sold 986,540 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total value of $106,349,012.00. The SEC filing for this sale provides additional information. Insiders sold 19,885,161 shares of company stock worth $2,326,801,573 in the last 90 days. Corporate insiders own 24.20% of the company’s stock.

CoreWeave Trading Down 0.2%

Shares of CRWV stock opened at $73.06 on Tuesday. The business has a 50-day moving average of $99.55 and a 200 day moving average of $95.33. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. CoreWeave Inc. has a 1-year low of $63.80 and a 1-year 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 announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.08 billion during the quarter. During the same period in the prior year, the firm earned ($0.60) EPS. The business’s revenue was up 111.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRWV. DA Davidson reaffirmed a “neutral” rating and issued a $100.00 target price (down from $175.00) on shares of CoreWeave in a research note on Monday, May 18th. Truist Financial raised their price objective on shares of CoreWeave from $85.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Jefferies Financial Group lifted their price objective on shares of CoreWeave from $120.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Finally, Barclays increased their target price on CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.87.

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.