CoreWeave (NASDAQ:CRWV) Shares Down 4% – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV)’s share price traded down 4% during mid-day trading on Tuesday . The stock traded as low as $78.40 and last traded at $79.94. Approximately 25,752,117 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 28,342,516 shares. The stock had previously closed at $83.31.

Analysts Set New Price Targets

CRWV has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $167.00 price objective on shares of CoreWeave in a research report on Thursday, June 11th. Oppenheimer raised their target price on shares of CoreWeave from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Evercore reiterated an “outperform” rating and set a $150.00 price target on shares of CoreWeave in a research report on Wednesday, April 15th. Barclays increased their price objective on shares of CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the company an “overweight” 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 given a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave presently has an average rating of “Moderate Buy” and a consensus target price of $136.73.

CoreWeave Stock Performance

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 stock has a market cap of $35.78 billion, a P/E ratio of -25.70 and a beta of 7.17. The stock has a fifty day simple moving average of $104.50 and a 200-day simple moving average of $95.37.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The company had revenue of $2.08 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 111.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.60) earnings per share. Equities analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

Insider Activity at CoreWeave

In other CoreWeave news, Director Jack D. Cogen sold 986,540 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total value of $106,349,012.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of CoreWeave stock in a transaction on Monday, April 20th. The stock was sold at an average price of $115.93, for a total transaction of $130,421,250.00. 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. Over the last 90 days, insiders sold 24,634,178 shares of company stock worth $2,884,502,568. 24.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares during the period. Proficio Capital Partners LLC raised its position in shares of 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 during the period. Deutsche Bank AG lifted its holdings in shares of CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after purchasing an additional 3,796,077 shares in the last quarter. Altimeter Capital Management LP bought a new position in shares of CoreWeave during the 4th quarter valued at about $230,099,000. Finally, Alyeska Investment Group L.P. grew its position in shares of 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 purchasing an additional 3,000,000 shares during the period.

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.