CoreWeave (NASDAQ:CRWV) Stock Price Down 1.4% After Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s share price was down 1.4% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $73.65 and last traded at $73.90. Approximately 13,186,573 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 24,679,041 shares. The stock had previously closed at $74.92.

Specifically, insider Brian M. Venturo sold 281,250 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $79.36, for a total value of $22,320,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRWV shares. Melius raised CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Tuesday, September 23rd. Bank of America lowered their price target on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Barclays lowered their target price on CoreWeave from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Roth Capital initiated coverage on CoreWeave in a report on Thursday, December 4th. They set a “buy” rating and a $110.00 target price for the company. Finally, Compass Point initiated coverage on CoreWeave in a report on Thursday, November 13th. They set a “buy” rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.70.

CoreWeave Stock Performance

The firm has a 50 day moving average price of $91.64 and a 200-day moving average price of $114.96. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $28.55 billion and a P/E ratio of -50.97.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Nvidia Corp grew its position in CoreWeave by 0.4% during the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after buying an additional 95,113 shares in the last quarter. Proficio Capital Partners LLC lifted its position in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after buying an additional 17,847,760 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of CoreWeave by 109.7% in the third 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 in the last quarter. Invesco Ltd. increased its stake in shares of CoreWeave by 55,329.7% in the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock valued at $410,454,000 after buying an additional 2,993,889 shares during the period. Finally, Clear Street Group Inc. acquired a new position in CoreWeave during the 3rd quarter valued at about $405,199,000.

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.