CoreWeave (NASDAQ:CRWV) Stock Price Down 1.6% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s stock price dropped 1.6% on Monday following insider selling activity. The stock traded as low as $79.56 and last traded at $80.94. Approximately 15,747,953 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 25,787,215 shares. The stock had previously closed at $82.24.

Specifically, CEO Michael N. Intrator sold 244,017 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $78.77, for a total transaction of $19,221,219.09. Following the sale, the chief executive officer directly owned 5,707,978 shares in the company, valued at approximately $449,617,427.06. This trade represents a 4.10% decrease in their position. The sale 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. Also, CEO Michael N. Intrator sold 200,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $78.77, for a total value of $15,754,000.00. Following the transaction, the chief executive officer directly owned 5,528,900 shares in the company, valued at approximately $435,511,453. The trade was a 3.49% 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 related news, insider Brian M. Venturo sold 489,802 shares of CoreWeave stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $80.50, for a total value of $39,429,061.00. Following the completion of the sale, the insider directly owned 285,327 shares in the company, valued at approximately $22,968,823.50. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRWV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $131.00 price target on shares of CoreWeave in a report on Friday, February 27th. DA Davidson boosted their price objective on shares of CoreWeave from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 27th. Bank of America upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research report on Monday, December 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $180.00 target price on shares of CoreWeave in a research note on Monday, March 2nd. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.06.

CoreWeave Price Performance

The company has a market capitalization of $33.92 billion and a P/E ratio of -25.29. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46. The firm’s 50-day moving average is $86.53 and its 200-day moving average is $95.76.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The business had revenue of $1.57 billion during the quarter. The business’s quarterly revenue was up 110.4% compared to the same quarter last year.

Institutional Trading of CoreWeave

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares in the last quarter. Deutsche Bank AG lifted its holdings in CoreWeave by 22,624.0% during the fourth 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 purchased a new position in CoreWeave during the fourth quarter valued at approximately $230,099,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of CoreWeave by 300.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $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.