CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Stock Price Down 6.2% – Here’s Why

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) dropped 6.2% during trading on Friday . The company traded as low as $50.79 and last traded at $51.58. Approximately 3,380,886 shares were traded during trading, a decline of 72% from the average daily volume of 11,964,153 shares. The stock had previously closed at $55.00.

Wall Street Analysts Forecast Growth

CRWV has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $54.00 price objective on the stock. Wells Fargo & Company raised their price target on CoreWeave, Inc. Class A Common Stock from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. began coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set an “overweight” rating and a $43.00 price objective for the company. Needham & Company LLC started coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set a “buy” rating and a $55.00 target price for the company. Finally, Mizuho initiated coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.75.

CoreWeave, Inc. Class A Common Stock Trading Down 6.6 %

Insider Activity at CoreWeave, Inc. Class A Common Stock

In related news, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the transaction, the chief financial officer now directly owns 231,811 shares of the company’s stock, valued at $9,272,440. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack D. Cogen sold 220,760 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the completion of the sale, the director now owns 126,220 shares of the company’s stock, valued at $6,003,023.20. This trade represents a 63.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,940 shares of company stock valued at $13,786,546 over the last 90 days.

About CoreWeave, Inc. Class A Common Stock

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.