CoreWeave (NASDAQ:CRWV) Shares Down 1.6% After Insider Selling

Shares of CoreWeave Inc. (NASDAQ:CRWV) traded down 1.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $79.56 and last traded at $80.94. 15,747,953 shares traded hands during trading, a decline of 39% from the average session volume of 25,787,215 shares. The stock had previously closed at $82.24.

Specifically, CEO Michael N. Intrator sold 244,017 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $78.77, for a total transaction of $19,221,219.09. Following the sale, the chief executive officer owned 5,707,978 shares of the company’s stock, valued at approximately $449,617,427.06. This trade represents a 4.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $78.77, for a total value of $15,754,000.00. Following the sale, the chief executive officer directly owned 5,528,900 shares in the company, valued at $435,511,453. This trade represents a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, insider Brian M. Venturo sold 489,802 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $80.50, for a total transaction of $39,429,061.00. Following the sale, the insider owned 285,327 shares of the company’s stock, valued at approximately $22,968,823.50. This trade represents a 63.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRWV shares. The Goldman Sachs Group started coverage on CoreWeave in a research report on Monday, January 12th. They set a “neutral” rating and a $86.00 target price on the stock. Wells Fargo & Company cut their target price on CoreWeave from $150.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Bank of America raised CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft raised CoreWeave from a “hold” rating to a “buy” rating and raised their target price for the stock from $100.00 to $140.00 in a research report on Tuesday, January 27th. Finally, Jefferies Financial Group cut their target price on CoreWeave from $155.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.06.

CoreWeave Stock Down 1.6%

The business has a 50 day moving average of $86.19 and a 200-day moving average of $95.48. The stock has a market cap of $33.92 billion and a PE ratio of -25.29. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.46.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The firm had revenue of $1.57 billion for the quarter. CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The company’s quarterly revenue was up 110.4% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRWV. Vanguard Group Inc. grew its stake in CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after buying an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC grew its stake in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after buying an additional 17,847,760 shares during the last quarter. Deutsche Bank AG grew its stake in CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock worth $273,039,000 after buying an additional 3,796,077 shares during the last quarter. Altimeter Capital Management LP purchased a new position in CoreWeave during the 4th quarter worth approximately $230,099,000. Finally, Alyeska Investment Group L.P. grew its stake in CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $286,440,000 after buying an additional 3,000,000 shares during the last quarter.

About CoreWeave

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.