Magneta Finance LLC and its affiliates, known as Magneta Fund, purchased 1,222,656 shares of CoreWeave, Inc. (CRWV) Class A common stock on May 6, 2026. The transaction totaled approximately $164.4 million.
Purchase Details
The acquisition occurred through multiple block trades with an average price ranging from $134.51 to $138.63 per share. Specific blocks included sales at $134.38 to $135.30, $135.50 to $136.00, $136.50 to $137.43, $137.50 to $138.05, $137.50 to $138.10, and finally $138.50 to $138.68. The highest total value reached $164.41 million at around $134.60 per share.
Stock Performance
CoreWeave shares currently trade at $114.13, below the purchase average but reflecting a 107% gain over the past year. This purchase underscores ongoing investor interest despite recent volatility.
Investor Background
Reports on the filing also highlight Magneta Capital Partners LP, SuperNova Management LLC, and David J. Snyderman as participants. These entities collectively hold about 10% of CoreWeave’s shares. Magneta Finance serves as the investment manager for various Magneta funds targeting core holdings, including CW Opportunity 2 LP, CW Opportunity LLC, Magneta Alpha Star Fund LLC, Magneta Capital Master Fund Ltd, Magneta Constellation Master Fund Ltd, and Magneta Real Credit Fund LLC.
Magneta Capital Partners acts as the sole owner of Magneta Finance, while SuperNova Management is a wholly owned subsidiary of Magneta Capital Partners and serves as its general partner. David J. Snyderman manages SuperNova Management.
Company Fundamentals
CoreWeave’s latest 10-Q filing discloses a 13G indicating passive investment in its Class A shares. The company adjusted its earnings per share (EPS) estimate downward from -$0.91 to -$1.40, a 53.85% negative surprise. However, it raised quarterly revenue guidance from $1.97 billion to $2.08 billion. Year-to-date revenue growth remains strong, surpassing 1 gigawatt (GW) in total capacity.
Analysis shows CoreWeave trades at a premium valuation with a price-to-book (P/B) ratio of 18.58, signaling high growth expectations despite limited profitability.
Analyst Outlook
DA Davidson maintains a “Buy” rating on CoreWeave with a $175 price target, citing recent upgrades based on improved guidance. This momentum reflects market confidence amid AI infrastructure demand and analyst support for the company’s growth trajectory.
