CoreWeave (NASDAQ:CRWV) Trading Down 1.5% – Here’s Why

CoreWeave Inc. (NASDAQ:CRWV)’s share price was down 1.5% during trading on Wednesday . The company traded as low as $99.60 and last traded at $104.27. Approximately 23,565,470 shares traded hands during trading, a decline of 16% from the average daily volume of 28,003,643 shares. The stock had previously closed at $105.89.

Analyst Ratings Changes

A number of analysts recently commented on CRWV shares. Jefferies Financial Group upped their price objective on CoreWeave from $120.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Barclays upped their price target on CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $135.00 price target on shares of CoreWeave in a research report on Friday, May 8th. Macquarie Infrastructure restated a “neutral” rating and issued a $115.00 price target on shares of CoreWeave in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CoreWeave in a research report on Monday, May 4th. Nineteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.63.

CoreWeave Stock Performance

The stock has a market cap of $46.67 billion, a P/E ratio of -33.53 and a beta of 7.84. 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 business has a 50 day moving average price of $101.23 and a two-hundred day moving average price of $90.49.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The business had revenue of $1.57 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.CoreWeave’s revenue for the quarter was up 110.4% on a year-over-year basis. On average, sell-side analysts forecast that CoreWeave Inc. will post -4.58 earnings per share for the current fiscal year.

Insider Transactions at CoreWeave

In other news, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $80.86, for a total value of $90,967,500.00. Following the completion of the transaction, the insider owned 285,327 shares of the company’s stock, valued at $23,071,541.22. This represents a 79.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $118.30, for a total value of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This trade represents a 83.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 25,134,617 shares of company stock valued at $2,816,351,278.

Hedge Funds Weigh In On CoreWeave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC bought a new position in CoreWeave during the third quarter valued at approximately $4,241,000. Vanguard Group Inc. lifted its stake in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after purchasing an additional 20,487,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CoreWeave by 6,022.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock valued at $8,075,000 after purchasing an additional 110,926 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock valued at $4,794,000 after purchasing an additional 26,907 shares during the last quarter. Finally, Hidden Lake Asset Management LP bought a new stake in shares of CoreWeave in the 3rd quarter valued at approximately $14,814,000.

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.