Brannin Mcbee Sells 144,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

Key Points

• CoreWeave insider Brannin Mcbee sold 144,000 shares at an average of $75.13, generating approximately $10.82 million. The transaction, conducted under a Rule 10b5-1 plan, reduced Mcbee’s ownership by 30.82% to 323,263 shares.
• CoreWeave shares fell 5.9% to $66.58, near the company’s 52-week low, amid high volatility and significant leverage. The company recently reported a quarterly loss of $1.40 per share despite revenue rising 111.6% year over year to $2.08 billion.
• Wall Street remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $136.25, substantially above the current share price.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) insider Brannin Mcbee sold 144,000 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $75.13, for a total transaction of $10,818,720.00. Following the completion of the sale, the insider owned 323,263 shares of the company's stock, valued at approximately $24,286,749.19. This trade represents a 30.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brannin Mcbee also recently made the following trade(s):

• On Monday, July 20th, Brannin Mcbee sold 50,500 shares of CoreWeave stock. The stock was sold at an average price of $75.13, for a total value of $3,794,065.00.
• On Monday, July 20th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The stock was sold at an average price of $75.13, for a total value of $4,169,715.00.
• On Monday, July 6th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $86.13, for a total value of $12,402,720.00.
• On Monday, July 6th, Brannin Mcbee sold 53,000 shares of CoreWeave stock. The stock was sold at an average price of $86.13, for a total value of $4,564,890.00.
• On Monday, June 29th, Brannin Mcbee sold 50,000 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total value of $4,716,000.00.
• On Monday, June 29th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total value of $13,582,080.00.
• On Monday, June 29th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total value of $5,234,760.00.
• On Tuesday, June 30th, Brannin Mcbee sold 56,707 shares of CoreWeave stock. The shares were sold at an average price of $95.69, for a total value of $5,426,292.83.
• On Monday, June 29th, Brannin Mcbee sold 500 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total value of $47,160.00.
• On Monday, June 22nd, Brannin Mcbee sold 25,000 shares of CoreWeave stock. The stock was sold at an average price of $111.28, for a total value of $2,782,000.00.

CoreWeave Stock Down 5.9%

Shares of CRWV stock traded down $4.21 during trading hours on Tuesday, reaching $66.58. 14,358,846 shares of the company's stock were exchanged, compared to its average volume of 28,020,781. CoreWeave Inc. has a 1 year low of $63.80 and a 1 year high of $153.20. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock has a market cap of $29.80 billion, a PE ratio of -21.47 and a beta of 7.17. The stock's fifty day moving average price is $96.38 and its two-hundred day moving average price is $95.39.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm's revenue was up 111.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.60) earnings per share. Research analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRWV shares. Oppenheimer raised their price target on shares of CoreWeave from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on CoreWeave from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. BNP Paribas Exane began coverage on CoreWeave in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $192.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on CoreWeave in a research report on Wednesday, July 22nd. They set an "overweight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $136.25.

Institutional Trading of CoreWeave

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sivia Capital Partners LLC acquired a new stake in shares of CoreWeave in the second quarter worth $39,824,000. Quantbot Technologies LP acquired a new position in CoreWeave during the second quarter valued at $311,000. Invesco Ltd. acquired a new position in CoreWeave during the second quarter valued at $882,000. First Trust Advisors LP purchased a new stake in CoreWeave in the second quarter valued at $20,260,000. Finally, Baird Financial Group Inc. purchased a new stake in CoreWeave in the second quarter valued at $455,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.