Michael Intrator Sells 50,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWV) CEO Michael Intrator sold 50,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $76.88, for a total transaction of $3,844,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CoreWeave Stock Performance

Shares of NASDAQ:CRWV traded up $2.55 during trading on Friday, reaching $88.30. 20,008,153 shares of the stock were exchanged, compared to its average volume of 32,635,524. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00. The stock has a 50-day moving average price of $109.87 and a 200-day moving average price of $120.45. 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 released its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. The business’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.82) earnings per share.

Institutional Trading of CoreWeave

Several large investors have recently bought and sold shares of CRWV. Gamco Investors INC. ET AL acquired a new position in CoreWeave during the first quarter worth about $318,000. Goldman Sachs Group Inc. bought a new stake in shares of CoreWeave during the 1st quarter valued at approximately $963,000. Howard Financial Services LTD. acquired a new position in CoreWeave during the 2nd quarter worth approximately $489,000. McAlister Sweet & Associates Inc. bought a new position in CoreWeave in the 2nd quarter valued at approximately $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in CoreWeave in the second quarter valued at approximately $117,000.

Wall Street Analysts Forecast Growth

CRWV has been the subject of a number of recent research reports. Barclays reduced their target price on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Moffett Nathanson increased their target price on shares of CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of CoreWeave in a report on Wednesday, August 13th. Raymond James Financial initiated coverage on CoreWeave in a research note on Monday, September 15th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, DA Davidson reissued an “underperform” rating and set a $36.00 price target on shares of CoreWeave in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.47.

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.