Kristen Mcveety Sells 156,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWV) insider Kristen Mcveety sold 156,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $81.63, for a total value of $12,734,280.00. Following the completion of the transaction, the insider owned 123,313 shares in the company, valued at approximately $10,066,040.19. This trade represents a 55.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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.

CoreWeave Price Performance

CoreWeave stock traded up $3.63 during mid-day trading on Thursday, reaching $84.56. 18,736,433 shares of the stock traded hands, compared to its average volume of 27,028,080. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. CoreWeave Inc. has a 12-month low of $60.55 and a 12-month high of $153.20. The business’s 50-day moving average is $85.47 and its 200-day moving average is $94.43.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (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 return on equity of 47.95% and a negative net margin of 25.41%.The company’s revenue for the quarter was up 112.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) earnings per share. Equities research analysts anticipate that CoreWeave Inc. will post -5.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of CoreWeave in a report on Wednesday, August 12th. Roth Capital set a $145.00 price target on shares of CoreWeave in a research report on Thursday, August 13th. TD Cowen upgraded shares of CoreWeave to a “buy” rating in a research note on Wednesday, July 22nd. Barclays lifted their price target on shares of CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company upped their price objective on CoreWeave from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Twenty-one research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRWV. California State Teachers Retirement System increased its holdings in CoreWeave by 12,886.8% in the 2nd quarter. California State Teachers Retirement System now owns 41,559,344 shares of the company’s stock worth $4,136,817,000 after acquiring an additional 41,239,333 shares in the last quarter. Proficio Capital Partners LLC raised 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 worth $2,443,013,000 after acquiring an additional 17,847,760 shares during the period. Alyeska Investment Group L.P. lifted its holdings in CoreWeave by 55.7% during the second quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock valued at $1,084,117,000 after purchasing an additional 3,897,741 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. Finally, Altimeter Capital Management LP bought a new position in shares of CoreWeave in the fourth quarter worth approximately $230,099,000.

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.