Sale Details
On August 13, 2026, Magnetar Financial LLC, which holds a 10% equity stake and a directorship in CoreWeave, Inc. (NASDAQ:CRWV), disposed of approximately $213.8 million worth of CoreWeave Class A common stock. The disposition was executed at transaction prices ranging from $107.61 to $108.48 per share, with a weighted‑average price of $107.75. A higher price of $115.61 per share was also recorded for part of the sale.
Share Price Performance and Valuation
At the time of reporting, CoreWeave’s shares were trading at $105.26, reflecting a 16% increase over the preceding week and a 47% gain year‑to‑date. The market capitalisation of CoreWeave was cited at $58.6 billion. Analysts noted that despite the company’s sizable debt load and ongoing cash‑burn, revenue growth expectations remain positive.
Magnetar Fund Structure and Ownership Retention
Magnetar Financial acts as investment adviser to a suite of funds—including CW Opportunity 2 LP, CW Opportunity LLC, Longhorn Special Opportunities Fund LP, Magnetar Capital Master Fund Ltd, Magnetar Constellation Master Fund Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Purpose Alternative Credit Fund – F LLC, Purpose Alternative Credit Fund – T LLC, Magnetar Alpha Star Fund LLC, and Magnetar Lake Credit Fund LLC—as well as the general partner of Magnetar Structured Credit Fund, LP (doing business as Magnetar Constellation Onshore Fund). These entities collectively hold the sold shares indirectly. Magnetar Capital Partners LP is identified as the sole member and parent of Magnetar Financial, with Supernova Management LLC serving as the general partner of Magnetar Capital Partners. David J. Snyderman is named as the administrative manager of Supernova Management. Each of the listed Magnetar funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management, and Mr. Snyderman expressly disclaimed beneficial ownership of the CoreWeave shares, except to the extent of their pecuniary interest. Following the transactions, Magnetar Financial and its affiliated funds continue to retain a substantial number of CoreWeave Class A shares.
Analyst Commentary and Guidance
Recent earnings releases from CoreWeave highlighted a revenue beat and a larger beat on adjusted operating income. Bernstein SocGen Group raised its price target from $67 to $74 while maintaining an Underperform rating. Cantor Fitzgerald increased its target from $167 to $178, citing a 0.8% revenue rise, a 6.2% increase in adjusted EBITDA, and an 82.9% jump in adjusted operating income. Truist Securities lifted its target to $155 from $126, noting the addition of nearly 500 MW of capacity in the second quarter, surpassing the total capacity of any other neocloud operator. Piper Sandler adjusted its target to $153 from $151, keeping an Overweight rating, and highlighted net‑new active megawatts of roughly 300 in June and raised fiscal‑2026 guidance. DA Davidson maintained a Neutral rating with a $100 target, referencing management’s capital‑expenditure guidance of $11.5 billion to $13.5 billion for the next quarter and an increased full‑year fiscal‑2026 capex range of $35 billion to $39 billion.
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