CoreWeave (NASDAQ:CRWV) Shares Gap Down Following Insider Selling

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $84.83, but opened at $82.28. CoreWeave shares last traded at $82.94, with a volume of 1,945,284 shares trading hands.

Specifically, insider Brannin Mcbee sold 63,835 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $85.30, for a total transaction of $5,445,125.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brannin Mcbee sold 102,835 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $85.30, for a total transaction of $8,771,825.50. Following the transaction, the insider directly owned 185,181 shares in the company, valued at $15,795,939.30. This trade represents a 35.70% decrease in their position. The SEC filing for this sale provides additional information. In related news, CEO Michael N. Intrator sold 50,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $65.47, for a total value of $3,273,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Roth Capital assumed coverage on CoreWeave in a report on Thursday, December 4th. They issued a “buy” rating and a $110.00 price target on the stock. Citigroup reaffirmed a “buy” rating and set a $135.00 target price (down from $192.00) on shares of CoreWeave in a research report on Friday, December 19th. Citizens Jmp raised shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Tuesday, September 16th. Evercore ISI decreased their price target on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Finally, DA Davidson restated an “underperform” rating and set a $36.00 price objective on shares of CoreWeave in a report on Tuesday, November 11th. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $127.70.

View Our Latest Stock Report on CoreWeave

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

CoreWeave Price Performance

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 business has a 50-day moving average of $95.15 and a 200 day moving average of $116.85. The firm has a market capitalization of $30.48 billion and a PE ratio of -54.39.

CoreWeave (NASDAQ:CRWVGet Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. CoreWeave’s revenue was up 133.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.82) earnings per share.

Institutional Investors Weigh In On CoreWeave

A number of institutional investors have recently added to or reduced their stakes in CRWV. Apexium Financial LP bought a new stake in shares of CoreWeave in the 2nd quarter worth approximately $1,044,000. Chung Wu Investment Group LLC purchased a new position in CoreWeave in the 2nd quarter worth $755,000. Cisco Systems Inc. bought a new stake in CoreWeave in the second quarter worth $173,493,000. Gamco Investors INC. ET AL bought a new stake in CoreWeave in the first quarter worth $318,000. Finally, Rockline Wealth Management LLC purchased a new stake in CoreWeave during the second quarter valued at about $951,000.

CoreWeave Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for CoreWeave Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreWeave and related companies with MarketBeat.com's FREE daily email newsletter.