CoreWeave (NASDAQ:CRWV) Shares Down 1.3% Following Insider Selling

Shares of CoreWeave Inc. (NASDAQ:CRWV) traded down 1.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $73.47 and last traded at $77.36. 52,208,950 shares changed hands during trading, an increase of 119% from the average session volume of 23,855,338 shares. The stock had previously closed at $78.34.

Specifically, insider Brian M. Venturo sold 281,250 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $87.57, for a total transaction of $24,629,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Chen Goldberg sold 13,740 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $90.79, for a total value of $1,247,454.60. Following the completion of the sale, the senior vice president owned 23,344 shares in the company, valued at approximately $2,119,401.76. The trade was a 37.05% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRWV. Mizuho lowered their target price on shares of CoreWeave from $150.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday. Stifel Nicolaus set a $120.00 price objective on shares of CoreWeave in a report on Tuesday. Wells Fargo & Company lowered their price objective on shares of CoreWeave from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America reduced their target price on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $174.00 price target on shares of CoreWeave in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, CoreWeave has a consensus rating of “Moderate Buy” and a consensus target price of $128.62.

CoreWeave Stock Down 1.3%

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 market cap of $37.80 billion and a PE ratio of -67.86. The business’s 50-day simple moving average is $122.82 and its 200 day simple moving average is $118.56.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (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. CoreWeave’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Apexium Financial LP purchased a new position in shares of CoreWeave during the 2nd quarter valued at approximately $1,044,000. Chung Wu Investment Group LLC acquired a new position in CoreWeave during the second quarter worth $755,000. Cisco Systems Inc. purchased a new position in CoreWeave during the second quarter valued at $173,493,000. Gamco Investors INC. ET AL acquired a new stake in shares of CoreWeave in the first quarter valued at about $318,000. Finally, Rockline Wealth Management LLC acquired a new stake in shares of CoreWeave in the second quarter valued at about $951,000.

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.