CoreWeave (NASDAQ:CRWV) Trading Down 5.4% After Insider Selling

Shares of CoreWeave Inc. (NASDAQ:CRWV) fell 5.4% during trading on Tuesday following insider selling activity. The stock traded as low as $78.70 and last traded at $80.26. 22,063,613 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 24,929,279 shares. The stock had previously closed at $84.83.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRWV. Compass Point started coverage on CoreWeave in a research report on Thursday, November 13th. They set a “buy” rating and a $150.00 target price for the company. Loop Capital decreased their price target on shares of CoreWeave from $165.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Raymond James Financial started coverage on shares of CoreWeave in a report on Monday, September 15th. They set an “outperform” rating and a $130.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a report on Monday. Finally, JMP Securities upgraded CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 target price on the stock in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave presently has a consensus rating of “Hold” and a consensus target price of $127.70.

CoreWeave Stock Down 1.7%

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The company has a 50 day simple moving average of $95.15 and a two-hundred day simple moving average of $116.85. The company has a market capitalization of $30.48 billion and a P/E ratio of -54.39.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm posted ($1.82) EPS. CoreWeave’s revenue for the quarter was up 133.7% compared to the same quarter last year.

Institutional Investors Weigh In On CoreWeave

Hedge funds and other institutional investors have recently made changes to their positions in the company. Costello Asset Management INC boosted its position in shares of CoreWeave by 33.3% during the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after buying an additional 100 shares during the period. Chilton Capital Management LLC lifted its position in shares of CoreWeave by 50.2% in the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after purchasing an additional 121 shares during the period. Family Legacy Financial Solutions LLC boosted its stake in shares of CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of CoreWeave by 29.6% during the third quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after purchasing an additional 147 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in CoreWeave by 36.0% during 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 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.