CoreWeave (NASDAQ:CRWV) Trading Down 1.1% Following Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s share price was down 1.1% on Monday after an insider sold shares in the company. The stock traded as low as $89.55 and last traded at $95.51. Approximately 21,744,059 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 28,541,166 shares. The stock had previously closed at $96.58.

Specifically, insider Brian M. Venturo sold 76,924 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $101.32, for a total value of $7,793,939.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 107,692 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $106.81, for a total transaction of $11,502,582.52. Following the transaction, the chief executive officer directly owned 3,474,020 shares of the company’s stock, valued at approximately $371,060,076.20. This trade represents a 3.01% decrease in their ownership of the stock. 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 news, CEO Michael N. Intrator sold 200,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $106.81, for a total transaction of $21,362,000.00. Following the completion of the sale, the chief executive officer directly owned 3,276,815 shares in the company, valued at approximately $349,996,610.15. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

CRWV has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 price target on shares of CoreWeave in a report on Friday, May 8th. Bank of America upgraded CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, March 24th. BNP Paribas Exane initiated coverage on CoreWeave in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 target price on the stock. Truist Financial upped their target price on CoreWeave from $85.00 to $131.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $150.00 price target on shares of CoreWeave in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

CoreWeave Stock Down 1.1%

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $42.75 billion, a P/E ratio of -30.71 and a beta of 7.18. The company has a 50-day moving average of $110.42 and a two-hundred day moving average of $94.67.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The firm had revenue of $2.08 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company’s quarterly revenue was up 111.6% compared to the same quarter last year. During the same period last year, the business posted ($0.60) EPS. On average, research analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Institutional Trading of CoreWeave

A number of hedge funds and other institutional investors have recently modified their holdings of CRWV. KERR FINANCIAL PLANNING Corp bought a new position in shares of CoreWeave in the 3rd quarter worth about $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in CoreWeave in the third quarter worth about $34,000. Cornerstone Planning Group LLC grew its holdings in CoreWeave by 272.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter. Finally, Greenline Wealth Management LLC bought a new position in shares of CoreWeave during the fourth quarter valued at approximately $28,000.

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.