Insider Selling: CoreWeave (NASDAQ:CRWV) Insider Sells $12,734,280.00 in Stock

CoreWeave Inc. (NASDAQ:CRWV) insider Kristen Mcveety sold 156,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $81.63, for a total transaction of $12,734,280.00. Following the completion of the sale, the insider directly owned 123,313 shares in the company, valued at $10,066,040.19. This represents a 55.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CoreWeave Price Performance

NASDAQ CRWV traded up $3.63 during trading hours on Thursday, reaching $84.56. 18,736,433 shares of the company’s stock traded hands, compared to its average volume of 27,028,080. CoreWeave Inc. has a 52-week low of $60.55 and a 52-week high of $153.20. The firm has a 50-day simple moving average of $85.47 and a 200 day simple moving average of $94.43. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.52) by $0.38. The business had revenue of $2.58 billion for the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The company’s revenue was up 112.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.27) EPS. As a group, equities analysts anticipate that CoreWeave Inc. will post -5.19 EPS for the current year.

Institutional Trading of CoreWeave

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of CoreWeave by 12,886.8% during the second quarter. California State Teachers Retirement System now owns 41,559,344 shares of the company’s stock valued at $4,136,817,000 after buying an additional 41,239,333 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after acquiring an additional 17,847,760 shares during the period. Alyeska Investment Group L.P. lifted its stake in CoreWeave by 55.7% during the 2nd quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock valued at $1,084,117,000 after acquiring an additional 3,897,741 shares during the period. Deutsche Bank AG boosted 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 acquiring an additional 3,796,077 shares during the last quarter. Finally, Altimeter Capital Management LP bought a new stake in shares of CoreWeave in the fourth quarter worth approximately $230,099,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on CoreWeave from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Robert W. Baird boosted their target price on CoreWeave from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. The Goldman Sachs Group increased their target price on CoreWeave from $121.00 to $139.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Weiss Ratings upgraded shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company increased their price objective on shares of CoreWeave from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Twenty-one investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.90.

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.