CoreWeave (NASDAQ:CRWV) Insider Sells $10,818,720.00 in Stock

CoreWeave Inc. (NASDAQ:CRWV) insider Brannin Mcbee sold 144,000 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $75.13, for a total value of $10,818,720.00. Following the completion of the sale, the insider owned 323,263 shares in the company, valued at $24,286,749.19. The trade was a 30.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brannin Mcbee also recently made the following trade(s):

• On Monday, July 20th, Brannin Mcbee sold 50,500 shares of CoreWeave stock. The shares were sold at an average price of $75.13, for a total value of $3,794,065.00.
• On Monday, July 20th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The shares were sold at an average price of $75.13, for a total value of $4,169,715.00.
• On Monday, July 6th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $86.13, for a total value of $12,402,720.00.
• On Monday, July 6th, Brannin Mcbee sold 53,000 shares of CoreWeave stock. The stock was sold at an average price of $86.13, for a total value of $4,564,890.00.
• On Monday, June 29th, Brannin Mcbee sold 50,000 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total transaction of $4,716,000.00.
• On Monday, June 29th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total transaction of $13,582,080.00.
• On Monday, June 29th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total transaction of $5,234,760.00.
• On Tuesday, June 30th, Brannin Mcbee sold 56,707 shares of CoreWeave stock. The shares were sold at an average price of $95.69, for a total transaction of $5,426,292.83.
• On Monday, June 29th, Brannin Mcbee sold 500 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total transaction of $47,160.00.
• On Monday, June 22nd, Brannin Mcbee sold 25,000 shares of CoreWeave stock. The shares were sold at an average price of $111.28, for a total transaction of $2,782,000.00.

CoreWeave Price Performance

Shares of CoreWeave stock traded down $4.21 during trading hours on Tuesday, reaching $66.58. The stock had a trading volume of 14,358,846 shares, compared to its average volume of 28,020,781. The stock’s 50 day moving average is $96.38 and its 200 day moving average is $95.39. The firm has a market capitalization of $29.80 billion, a PE ratio of -21.47 and a beta of 7.17. CoreWeave Inc. has a twelve month low of $63.80 and a twelve month high of $153.20. 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 (NASDAQ:CRWV) last posted its earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business had revenue of $2.08 billion for the quarter. During the same quarter in the previous year, the business earned ($0.60) EPS. The firm’s revenue for the quarter was up 111.6% on a year-over-year basis. Equities analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird began coverage on CoreWeave in a report on Tuesday, July 21st. They issued an “outperform” rating and a $100.00 price objective on the stock. BTIG Research initiated coverage on CoreWeave in a research report on Wednesday, July 22nd. They set a “buy” rating on the stock. BNP Paribas Exane assumed coverage on shares of CoreWeave in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 price target on the stock. Barclays cut their price target on shares of CoreWeave from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of CoreWeave in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently bought and sold shares of CRWV. Vanguard Group Inc. lifted its position in shares of CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Bank of America Corp DE increased its position in shares of CoreWeave by 13.1% during the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock worth $437,870,000 after purchasing an additional 653,398 shares in the last quarter. Clear Street Group Inc. raised its stake in CoreWeave by 57.2% in the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after purchasing an additional 1,692,916 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in CoreWeave by 300.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.

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.