CoreWeave Inc. (NASDAQ:CRWV – Get Free Report)’s stock price was down 13.9% during trading on Wednesday following insider selling activity. The company traded as low as $85.01 and last traded at $85.69. 60,226,694 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 28,734,582 shares. The stock had previously closed at $99.54.
Specifically, insider Brannin Mcbee sold 50,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $94.32, for a total transaction of $4,716,000.00. Following the sale, the insider owned 402,852 shares of the company’s stock, valued at approximately $37,997,000.64. This trade represents a 11.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 144,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $94.32, for a total value of $13,582,080.00. Following the completion of the transaction, the insider directly owned 258,852 shares of the company’s stock, valued at approximately $24,414,920.64. The trade was a 35.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, insider Brannin Mcbee sold 55,500 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $94.32, for a total transaction of $5,234,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on CRWV shares. Sanford C. Bernstein reiterated an “underperform” rating on shares of CoreWeave in a research note on Thursday, June 11th. Wolfe Research began coverage on shares of CoreWeave in a research report on Thursday, April 16th. They issued an “outperform” rating and a $150.00 price objective on the stock. Barclays boosted their price objective on shares of CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Finally, Mizuho raised their target price on shares of CoreWeave from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.
Trending Headlines about CoreWeave
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: Rosenblatt reaffirmed a buy rating, and some analysts say Meta fears may be exaggerated given CoreWeave’s large AI backlog and continued compute demand. Coreweave Sell-off Sparks Buying Opportunity, Analyst Says Meta Fears Are Overblown
- Neutral Sentiment: CoreWeave launched ARIA, an AI research agent designed to speed experimentation and model iteration, which is a product-positive update but not a major near-term catalyst. CoreWeave Unveils ARIA to Accelerate AI Research and Agent Development
- Neutral Sentiment: CoreWeave expanded its Livingston headquarters, signaling ongoing growth, though the news does little to offset current investor concerns. CoreWeave Expands HQ with Additional 31,000 SF in Livingston
- Negative Sentiment: Meta’s reported AI cloud ambitions have intensified fears of direct competition in CoreWeave’s core market, pressuring the stock. Stock Market Today, July 1: CoreWeave Stock Tumbles as Meta Cloud Report Raises Customer Concerns
- Negative Sentiment: Multiple large insider sales have renewed concerns about valuation and added to the bearish tone around CRWV. CoreWeave Insider Sales Look Big, But Should Investors Worry?
CoreWeave Price Performance
The firm has a 50-day simple moving average of $108.29 and a two-hundred day simple moving average of $94.80. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of -26.29 and a beta of 7.17.
CoreWeave (NASDAQ:CRWV – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.08 billion during the quarter. During the same period last year, the firm earned ($0.60) earnings per share. The business’s quarterly revenue was up 111.6% compared to the same quarter last year. As a group, analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.
Institutional Investors Weigh In On CoreWeave
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Bank of America Corp DE boosted its holdings in CoreWeave by 13.1% during the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after acquiring an additional 653,398 shares during the period. Clear Street Group Inc. boosted its stake in shares of CoreWeave by 57.2% in the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after purchasing an additional 1,692,916 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in CoreWeave by 300.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after buying an additional 3,000,000 shares during the period.
About CoreWeave
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.
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