CoreWeave (NASDAQ:CRWV) Trading Down 1.8% After Insider Selling

Shares of CoreWeave Inc. (NASDAQ:CRWV) traded down 1.8% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $83.23 and last traded at $86.25. 18,310,578 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 28,767,770 shares. The stock had previously closed at $87.85.

Specifically, CFO Nitin Agrawal sold 10,062 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $91.88, for a total value of $924,496.56. Following the completion of the sale, the chief financial officer owned 138,105 shares in the company, valued at $12,689,087.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeff Baker sold 1,256 shares of CoreWeave stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $91.88, for a total value of $115,401.28. Following the completion of the sale, the insider directly owned 8,337 shares in the company, valued at $766,003.56. This represents a 13.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other CoreWeave news, EVP Chen Goldberg sold 8,628 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $91.88, for a total transaction of $792,740.64. Following the transaction, the executive vice president owned 72,974 shares in the company, valued at approximately $6,704,851.12. The trade was a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Ratings Changes

Several analysts have recently commented on CRWV shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $150.00 price target on shares of CoreWeave in a report on Friday, August 7th. Truist Financial increased their price objective on CoreWeave from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Barclays boosted their target price on shares of CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. The Goldman Sachs Group increased their price target on shares of CoreWeave from $121.00 to $139.00 and gave the company a “neutral” rating in a report on Friday. Finally, Mizuho raised their price objective on shares of CoreWeave from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Twenty-one investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, CoreWeave has a consensus rating of “Moderate Buy” and an average price target of $141.90.

CoreWeave Stock Performance

The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53. The stock’s 50 day moving average price is $89.99 and its two-hundred day moving average price is $94.79. The firm has a market capitalization of $39.58 billion, a PE ratio of -23.63 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.The firm had revenue of $2.58 billion for the quarter. During the same period in the previous year, the company posted ($0.27) EPS. CoreWeave’s quarterly revenue was up 112.5% compared to the same quarter last year. On average, equities analysts expect that CoreWeave Inc. will post -5.17 earnings per share for the current year.

Hedge Funds Weigh In On CoreWeave

Several hedge funds have recently bought and sold shares of CRWV. Vanguard Group Inc. boosted its stake in shares of CoreWeave by 275.6% during 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 during the last quarter. Legal & General Group Plc raised its stake in CoreWeave by 8,455.6% in the 4th quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock valued at $43,775,000 after purchasing an additional 604,156 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CoreWeave by 12.6% in the 1st quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company’s stock valued at $27,401,000 after purchasing an additional 39,599 shares in the last quarter. California State Teachers Retirement System lifted its holdings in CoreWeave by 25.5% in the 1st quarter. California State Teachers Retirement System now owns 320,011 shares of the company’s stock valued at $24,791,000 after purchasing an additional 64,960 shares in the last quarter. Finally, Ardmore Road Asset Management LP lifted its holdings in CoreWeave by 3,410.0% in the 1st quarter. Ardmore Road Asset Management LP now owns 351,000 shares of the company’s stock valued at $27,192,000 after purchasing an additional 341,000 shares in the last quarter.

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.