Insider Selling: CoreWeave (NASDAQ:CRWV) Insider Sells $2,699,074.35 in Stock

CoreWeave Inc. (NASDAQ:CRWV) insider Brannin Mcbee sold 34,335 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $78.61, for a total transaction of $2,699,074.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Brannin Mcbee also recently made the following trade(s):

• On Tuesday, December 2nd, Brannin Mcbee sold 500 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total transaction of $39,305.00.
• On Tuesday, December 2nd, Brannin Mcbee sold 102,835 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total transaction of $8,083,859.35.
• On Tuesday, December 2nd, Brannin Mcbee sold 29,000 shares of CoreWeave stock. The stock was sold at an average price of $78.61, for a total transaction of $2,279,690.00.
• On Tuesday, September 30th, Brannin Mcbee sold 150,000 shares of CoreWeave stock. The stock was sold at an average price of $138.10, for a total transaction of $20,715,000.00.
• On Tuesday, September 30th, Brannin Mcbee sold 157,903 shares of CoreWeave stock. The shares were sold at an average price of $138.59, for a total transaction of $21,883,776.77.
• On Tuesday, September 23rd, Brannin Mcbee sold 375,000 shares of CoreWeave stock. The stock was sold at an average price of $131.83, for a total value of $49,436,250.00.
• On Tuesday, September 23rd, Brannin Mcbee sold 250,000 shares of CoreWeave stock. The stock was sold at an average price of $131.83, for a total value of $32,957,500.00.
• On Tuesday, September 16th, Brannin Mcbee sold 375,000 shares of CoreWeave stock. The shares were sold at an average price of $118.17, for a total value of $44,313,750.00.
• On Tuesday, September 16th, Brannin Mcbee sold 250,000 shares of CoreWeave stock. The stock was sold at an average price of $118.17, for a total value of $29,542,500.00.
• On Tuesday, September 9th, Brannin Mcbee sold 375,000 shares of CoreWeave stock. The shares were sold at an average price of $99.47, for a total transaction of $37,301,250.00.

CoreWeave Price Performance

CoreWeave stock opened at $88.30 on Monday. CoreWeave Inc. has a 12-month low of $33.51 and a 12-month high of $187.00. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The firm has a 50-day moving average price of $109.87 and a 200-day moving average price of $120.76. The firm has a market capitalization of $34.12 billion and a PE ratio of -60.90.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted ($1.82) earnings per share. The business’s revenue for the quarter was up 133.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRWV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research note on Monday, December 1st. Citizens Jmp raised CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research report on Tuesday, September 16th. Roth Capital started coverage on CoreWeave in a research report on Thursday. They set a “buy” rating and a $110.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $174.00 price target on shares of CoreWeave in a report on Wednesday, November 5th. Finally, Bank of America reduced their price target on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $129.47.

Institutional Trading of CoreWeave

A number of hedge funds have recently added to or reduced their stakes in the business. Nvidia Corp raised its holdings in shares of CoreWeave by 0.4% in the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock valued at $3,958,701,000 after purchasing an additional 95,113 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Vanguard Group Inc. increased its holdings in CoreWeave by 109.7% during the third quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock valued at $1,017,275,000 after buying an additional 3,888,164 shares during the period. Invesco Ltd. raised its stake in CoreWeave by 55,329.7% in the third quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after buying an additional 2,993,889 shares in the last quarter. Finally, Clear Street Group Inc. purchased a new stake in CoreWeave during the third quarter worth $405,199,000.

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.