CoreWeave (NASDAQ:CRWV) Shares Gap Down – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV) gapped down before the market opened on Tuesday . The stock had previously closed at $73.60, but opened at $70.84. CoreWeave shares last traded at $68.23, with a volume of 7,634,512 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Argus reiterated a “buy” rating and set a $200.00 price target on shares of CoreWeave in a research note on Thursday, August 14th. Bank of America reduced their price objective on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Moffett Nathanson lifted their target price on shares of CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 19th. The Goldman Sachs Group decreased their price target on shares of CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Finally, Stifel Nicolaus set a $120.00 price objective on CoreWeave in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.14.

CoreWeave Stock Down 3.8%

The company has a market capitalization of $27.36 billion and a P/E ratio of -48.84. The business’s fifty day moving average price is $118.49 and its 200 day moving average price is $120.55. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66.

CoreWeave (NASDAQ:CRWV) last issued 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. The firm’s revenue was up 133.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insider Transactions at CoreWeave

In related news, insider Kristen J. Mcveety sold 2,231 shares of CoreWeave stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $82.55, for a total transaction of $184,169.05. Following the transaction, the insider owned 2,195 shares of the company’s stock, valued at $181,197.25. This trade represents a 50.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nitin Agrawal sold 5,841 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $82.55, for a total value of $482,174.55. Following the sale, the chief financial officer directly owned 151,159 shares in the company, valued at $12,478,175.45. The trade was a 3.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 33,161,316 shares of company stock worth $4,241,069,389.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently made changes to their positions in 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 worth $65,000 after acquiring an additional 100 shares in the last quarter. Chilton Capital Management LLC raised its holdings 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 period. Family Legacy Financial Solutions LLC grew its holdings in CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after purchasing an additional 125 shares during the period. CoreCap Advisors LLC increased its position in CoreWeave by 29.6% during the third quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock worth $88,000 after buying an additional 147 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its stake in CoreWeave by 36.0% in the third quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after buying an additional 180 shares during the period.

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.