CoreWeave (NASDAQ:CRWV) Trading Down 6.1% After Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) traded down 6.1% on Friday after an insider sold shares in the company. The company traded as low as $106.44 and last traded at $107.30. 21,159,007 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 28,089,404 shares. The stock had previously closed at $114.21.

Specifically, insider Jeff Baker sold 42,515 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $113.94, for a total transaction of $4,844,159.10. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $1,595.16. This trade represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 76,924 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.55, for a total value of $8,503,948.20. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CEO Michael N. Intrator sold 107,693 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $105.67, for a total value of $11,379,919.31. Following the completion of the sale, the chief executive officer directly owned 4,657,101 shares in the company, valued at approximately $492,115,862.67. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRWV shares. Bank of America upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, March 24th. Wells Fargo & Company upped their price target on shares of CoreWeave from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Barclays upped their price target on shares of CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of CoreWeave in a report on Monday, May 4th. Finally, Truist Financial upped their price target on shares of CoreWeave from $85.00 to $131.00 and gave the company a “hold” rating in a report on Friday, May 8th. Twenty equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.97.

Trending Headlines about CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave launched Sandboxes, a new AI execution layer designed for secure, isolated agent workloads, debugging, and reinforcement learning at scale. The product could help the company monetize higher-value AI infrastructure use cases and strengthen its position in fast-growing AI agent workloads. CoreWeave Sandboxes Targets AI Agent Workloads And Higher Value Monetization
• Positive Sentiment: Citigroup raised its price target on CoreWeave to $158 and kept a buy rating, reinforcing bullish sentiment around the stock. CoreWeave (NASDAQ:CRWV) Given New $158.00 Price Target at Citigroup
• Positive Sentiment: Coverage highlighting CoreWeave as a beneficiary of rising AI data center spending suggests investors are still rotating into AI infrastructure names beyond chips. 3 AI Data Center Stocks Worth Watching for Capital Rotation (CRWV)
• Neutral Sentiment: CoreWeave will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 19, which could provide a catalyst if management shares new business updates, but the event itself is mostly informational. CoreWeave to Participate in the J.P. Morgan Global Technology, Media and Communications Conference
• Negative Sentiment: Insider sales by co-founder Brian Venturo and CEO Michael Intrator may weigh on sentiment, even though the transactions were made under pre-arranged trading plans. Brian Venturo Sells 375,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Stock Performance

The firm has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $91.87. The company has a current ratio of 0.31, a quick ratio of 0.46 and a debt-to-equity ratio of 3.68. The stock has a market cap of $48.02 billion, a price-to-earnings ratio of -34.50 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $1.57 billion during the quarter. The firm’s revenue was up 110.4% on a year-over-year basis. As a group, sell-side analysts expect that CoreWeave Inc. will post -4.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AE Wealth Management LLC acquired a new position in CoreWeave in the third quarter worth about $4,241,000. Vanguard Group Inc. raised its stake 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CoreWeave by 6,022.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock worth $8,075,000 after acquiring an additional 110,926 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock worth $4,794,000 after acquiring an additional 26,907 shares in the last quarter. Finally, Hidden Lake Asset Management LP acquired a new position in shares of CoreWeave in the 3rd quarter worth approximately $14,814,000.

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.