CoreWeave (NASDAQ:CRWV) Shares Down 11.4% – Should You Sell?

Shares of CoreWeave Inc. (NASDAQ:CRWV) were down 11.4% on Friday . The company traded as low as $71.67 and last traded at $71.88. Approximately 25,202,460 shares traded hands during trading, a decline of 11% from the average daily volume of 28,165,799 shares. The stock had previously closed at $81.10.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of CoreWeave in a research report on Wednesday. They set an “outperform” rating for the company. Robert W. Baird began coverage on shares of CoreWeave in a research note on Tuesday. They set an “outperform” rating and a $100.00 price target on the stock. Wolfe Research reissued an “outperform” rating on shares of CoreWeave in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $135.00 price target on shares of CoreWeave in a research report on Friday, May 8th. Finally, Roth Capital restated a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CoreWeave has a consensus rating of “Moderate Buy” and an average target price of $136.25.

CoreWeave Stock Performance

The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $97.75 and a two-hundred day simple moving average of $95.47. The company has a market cap of $32.17 billion, a PE ratio of -23.11 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The firm 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%. The company’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.60) earnings per share. Equities analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Insider Activity at CoreWeave

In related news, insider Brian M. Venturo sold 76,912 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total transaction of $6,690,574.88. Following the completion of the sale, the insider owned 283,985 shares in the company, valued at $24,703,855.15. This represents a 21.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael N. Intrator sold 61,797 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the transaction, the chief executive officer directly owned 2,876,815 shares in the company, valued at $250,110,296.10. The trade was a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,070,099 shares of company stock worth $1,982,943,238 in the last 90 days. 24.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC increased its position in CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Cullen Frost Bankers Inc. lifted its position in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 121 shares during the period. Greenline Wealth Management LLC purchased a new position in shares of CoreWeave in the 4th quarter valued at approximately $28,000. Peterson Wealth Services grew its stake in shares of CoreWeave by 153.1% in the 1st quarter. Peterson Wealth Services now owns 405 shares of the company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of CoreWeave in the 1st quarter valued at approximately $31,000.

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.