CoreWeave (NASDAQ:CRWV) Stock Price Down 2.6% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) dropped 2.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $72.55 and last traded at $75.33. Approximately 29,033,745 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 23,870,369 shares. The stock had previously closed at $77.36.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Loop Capital decreased their price objective on CoreWeave from $165.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Bank of America reduced their price target on CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Compass Point began coverage on CoreWeave in a report on Thursday, November 13th. They set a “buy” rating and a $150.00 price target on the stock. Arete upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, August 21st. Finally, Arete Research upgraded shares of CoreWeave from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.14.

CoreWeave Trading Down 2.6%

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The business has a fifty day moving average of $122.46 and a 200-day moving average of $119.86. The stock has a market capitalization of $29.11 billion and a price-to-earnings ratio of -66.08.

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

Institutional Trading of CoreWeave

A number of large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL acquired a new position in CoreWeave in the first quarter worth approximately $318,000. Goldman Sachs Group Inc. acquired a new position in shares of CoreWeave in the 1st quarter worth $963,000. Howard Financial Services LTD. acquired a new position in shares of CoreWeave in the 2nd quarter worth $489,000. McAlister Sweet & Associates Inc. acquired a new stake in shares of CoreWeave during the second quarter worth $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CoreWeave during the second quarter valued at $117,000.

CoreWeave Company Profile

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.