CoreWeave (NASDAQ:CRWV) Shares Down 3.3% After Analyst Downgrade

CoreWeave Inc. (NASDAQ:CRWV) shares were down 3.3% during trading on Wednesday after Loop Capital lowered their price target on the stock from $165.00 to $120.00. Loop Capital currently has a buy rating on the stock. CoreWeave traded as low as $85.32 and last traded at $85.43. Approximately 40,045,334 shares changed hands during trading, an increase of 70% from the average daily volume of 23,545,113 shares. The stock had previously closed at $88.39.

A number of other equities analysts also recently commented on the stock. Barclays reduced their price objective on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday. Arete raised CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Thursday, August 21st. Hsbc Global Res upgraded CoreWeave to a “moderate sell” rating in a research note on Thursday, July 17th. Raymond James Financial initiated coverage on CoreWeave in a research report on Monday, September 15th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Argus reissued a “buy” rating and issued a $200.00 price objective on shares of CoreWeave in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.86.

Insiders Place Their Bets

In other CoreWeave news, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $94.69, for a total value of $105,295,658.76. Following the completion of the sale, the director owned 12,329,676 shares in the company, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $125.60, for a total value of $182,253,512.80. Following the completion of the sale, the insider owned 363,631 shares of the company’s stock, valued at approximately $45,672,053.60. This trade represents a 79.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 36,743,427 shares of company stock worth $4,592,624,537.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRWV. Costello Asset Management INC raised its position in CoreWeave by 33.3% during the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after purchasing an additional 100 shares in the last quarter. Chilton Capital Management LLC increased its stake in shares of CoreWeave by 50.2% in the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock valued at $50,000 after purchasing an additional 121 shares during the last quarter. Family Legacy Financial Solutions LLC increased its stake in shares of CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of CoreWeave by 29.6% during the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock worth $88,000 after buying an additional 147 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its position in shares of CoreWeave by 36.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock worth $93,000 after buying an additional 180 shares during the last quarter.

CoreWeave Trading Down 3.3%

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.79. The firm has a 50-day moving average of $123.24 and a two-hundred day moving average of $118.60. The firm has a market capitalization of $41.74 billion and a P/E ratio of -74.94.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company posted ($1.82) EPS. The firm’s revenue was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.