CoreWeave (NASDAQ:CRWV) Trading Down 3.1% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) dropped 3.1% during trading on Monday following insider selling activity. The company traded as low as $76.77 and last traded at $76.86. Approximately 25,080,457 shares traded hands during trading, a decline of 9% from the average daily volume of 27,539,379 shares. The stock had previously closed at $79.32.

Specifically, CEO Michael N. Intrator sold 50,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $71.94, for a total transaction of $3,597,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael N. Intrator sold 111,427 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $72.39, for a total value of $8,066,200.53. Following the completion of the transaction, the chief executive officer directly owned 5,922,620 shares in the company, valued at approximately $428,738,461.80. This represents a 1.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In related news, insider Brannin Mcbee sold 57,636 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $72.57, for a total value of $4,182,644.52. Following the transaction, the insider directly owned 248,664 shares of the company’s stock, valued at approximately $18,045,546.48. The trade was a 18.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of research firms recently commented on CRWV. Evercore ISI lowered their price target on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Citigroup reaffirmed a “buy” rating and set a $135.00 price target (down previously from $192.00) on shares of CoreWeave in a research report on Friday, December 19th. Citizens Jmp upgraded CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Tuesday, September 16th. Macquarie dropped their price objective on shares of CoreWeave from $140.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, DA Davidson set a $68.00 target price on shares of CoreWeave and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

CoreWeave Stock Down 3.1%

The firm has a market cap of $29.70 billion and a PE ratio of -53.01. 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’s 50-day simple moving average is $87.52 and its two-hundred day simple moving average is $112.49.

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

Institutional Trading of CoreWeave

A number of hedge funds have recently modified their holdings of CRWV. Renaissance Capital LLC increased its holdings in shares of CoreWeave by 49.9% in the 3rd quarter. Renaissance Capital LLC now owns 47,162 shares of the company’s stock valued at $6,454,000 after acquiring an additional 15,697 shares during the period. Munro Partners boosted its position in CoreWeave by 5,272.4% during the third quarter. Munro Partners now owns 616,485 shares of the company’s stock valued at $84,366,000 after purchasing an additional 605,010 shares in the last quarter. Apexium Financial LP purchased a new position in CoreWeave in the second quarter valued at about $1,044,000. Chung Wu Investment Group LLC bought a new position in CoreWeave in the second quarter worth about $755,000. Finally, Cisco Systems Inc. bought a new position in CoreWeave in the second quarter worth about $173,493,000.

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.