Michael Intrator Sells 200,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) CEO Michael Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $106.74, for a total transaction of $21,348,000.00. Following the completion of the transaction, the chief executive officer owned 4,076,815 shares in the company, valued at $435,159,233.10. This represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CoreWeave Stock Performance

CRWV traded up $2.59 during mid-day trading on Thursday, hitting $106.86. The stock had a trading volume of 23,261,036 shares, compared to its average volume of 27,448,842. The stock’s fifty day simple moving average is $102.09 and its 200-day simple moving average is $90.49. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. CoreWeave Inc. has a 1-year low of $63.80 and a 1-year high of $187.00.

CoreWeave (NASDAQ:CRWVGet Free Report) last posted its 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). The firm 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%.The company’s revenue for the quarter was up 110.4% compared to the same quarter last year. Sell-side analysts anticipate that CoreWeave Inc. will post -4.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRWV. Cornerstone Planning Group LLC grew its position in shares of 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. KERR FINANCIAL PLANNING Corp bought a new position in shares of CoreWeave in the 3rd quarter valued at about $27,000. Aspect Partners LLC bought a new position in shares of CoreWeave in the 3rd quarter valued at about $28,000. Cullen Frost Bankers Inc. grew its position in shares of CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Finally, Greenline Wealth Management LLC bought a new position in shares of CoreWeave in the 4th quarter valued at about $28,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRWV shares. Citizens Jmp restated a “market outperform” rating and set a $180.00 price objective on shares of CoreWeave in a report on Friday, February 27th. Cantor Fitzgerald raised their price objective on shares of CoreWeave from $156.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Sanford C. Bernstein raised their price objective on shares of CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Finally, Mizuho raised their price objective on shares of CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.63.

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CoreWeave News Summary

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CoreWeave Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for CoreWeave (NASDAQ:CRWV)

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