CoreWeave (NASDAQ:CRWV) Stock Price Down 3.3% After Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s stock price was down 3.3% during mid-day trading on Monday following insider selling activity. The company traded as low as $98.65 and last traded at $103.77. Approximately 36,882,949 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 28,185,713 shares. The stock had previously closed at $107.30.

Specifically, insider Jeff Baker sold 42,515 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $113.94, for a total transaction of $4,844,159.10. Following the completion of the transaction, the insider owned 14 shares in the company, valued at approximately $1,595.16. This represents a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian M. Venturo sold 76,924 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.55, for a total value of $8,503,948.20. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other CoreWeave news, CEO Michael N. Intrator sold 107,693 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $105.67, for a total transaction of $11,379,919.31. Following the completion of the transaction, the chief executive officer owned 4,657,101 shares in the company, valued at approximately $492,115,862.67. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CRWV shares. Citigroup increased their target price on CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday. Citizens Jmp reiterated a “market outperform” rating and set a $180.00 target price on shares of CoreWeave in a report on Friday, February 27th. Sanford C. Bernstein increased their target price on CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Wells Fargo & Company increased their target price on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Macquarie Infrastructure reiterated a “neutral” rating and set a $115.00 target price on shares of CoreWeave in a report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.63.

CoreWeave Price Performance

The company has a market cap of $46.44 billion, a P/E ratio of -33.37 and a beta of 7.84. The company has a fifty day moving average price of $97.44 and a two-hundred day moving average price of $91.67. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The company had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. CoreWeave’s revenue was up 110.4% on a year-over-year basis. On average, sell-side analysts anticipate that CoreWeave Inc. will post -4.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreWeave

Hedge funds have recently modified their holdings of the stock. AE Wealth Management LLC acquired a new stake in CoreWeave in the 3rd quarter valued at about $4,241,000. Vanguard Group Inc. lifted its stake in CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after purchasing an additional 20,487,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $8,075,000 after purchasing an additional 110,926 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 purchasing an additional 26,907 shares during the last quarter. Finally, Hidden Lake Asset Management LP acquired a new stake in CoreWeave in the 3rd quarter valued at about $14,814,000.

CoreWeave Company 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.