CoreWeave (NASDAQ:CRWV) Shares Down 1.7% on Insider Selling

Shares of CoreWeave Inc. (NASDAQ:CRWV) fell 1.7% during trading on Wednesday following insider selling activity. The company traded as low as $78.55 and last traded at $78.87. 11,914,277 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 24,860,682 shares. The stock had previously closed at $80.26.

Specifically, insider Brannin Mcbee sold 63,835 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $85.30, for a total transaction of $5,445,125.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brannin Mcbee sold 102,835 shares of CoreWeave stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $85.30, for a total transaction of $8,771,825.50. Following the sale, the insider directly owned 185,181 shares of the company’s stock, valued at $15,795,939.30. The trade was a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other CoreWeave news, CEO Michael N. Intrator sold 50,000 shares of CoreWeave stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $65.47, for a total value of $3,273,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

CRWV has been the subject of several research analyst reports. Evercore ISI lowered their target price on CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Morgan Stanley increased their price objective on shares of CoreWeave from $91.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Melius Research set a $140.00 target price on shares of CoreWeave in a report on Tuesday, November 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $110.00 price objective on shares of CoreWeave in a research note on Tuesday, November 11th. Finally, Bank of America reduced their target price on CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $127.70.

CoreWeave Stock Down 1.7%

The stock’s 50 day moving average is $96.36 and its 200 day moving average is $117.12. The company has a market capitalization of $30.48 billion and a PE ratio of -54.39. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. The company’s revenue was up 133.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.82) EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRWV. Nvidia Corp boosted its position in shares of CoreWeave by 0.4% in the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock valued at $3,958,701,000 after acquiring an additional 95,113 shares during the period. Proficio Capital Partners LLC boosted its holdings in CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after purchasing an additional 17,847,760 shares during the period. Vanguard Group Inc. boosted its holdings in CoreWeave by 109.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock valued at $1,017,275,000 after purchasing an additional 3,888,164 shares during the period. Invesco Ltd. grew its position in shares of CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock valued at $410,454,000 after purchasing an additional 2,993,889 shares in the last quarter. Finally, Clear Street Group Inc. bought a new position in shares of CoreWeave in the third quarter worth $405,199,000.

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.