CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Sets New 1-Year High - Here's Why

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $117.50 and last traded at $113.75, with a volume of 8779846 shares. The stock had previously closed at $102.74.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRWV shares. Wall Street Zen lowered CoreWeave, Inc. Class A Common Stock from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Melius Research raised CoreWeave, Inc. Class A Common Stock to a "hold" rating in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price target on shares of CoreWeave, Inc. Class A Common Stock in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price objective for the company. Finally, DA Davidson lowered CoreWeave, Inc. Class A Common Stock from a "neutral" rating to an "underperform" rating and set a $36.00 target price on the stock. in a research report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CoreWeave, Inc. Class A Common Stock currently has a consensus rating of "Hold" and an average price target of $60.94.

CoreWeave, Inc. Class A Common Stock Price Performance

The company's fifty day moving average price is $56.71.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).

Insider Buying and Selling

In other news, Director Jack D. Cogen sold 220,760 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $47.56, for a total value of $10,499,345.60. Following the sale, the director now directly owns 126,220 shares of the company's stock, valued at approximately $6,003,023.20. This represents a 63.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nitin Agrawal sold 12,720 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the transaction, the chief financial officer now directly owns 231,811 shares in the company, valued at $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 302,940 shares of company stock valued at $13,786,546.

Hedge Funds Weigh In On CoreWeave, Inc. Class A Common Stock

An institutional investor recently bought a new position in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new position in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,575 shares of the company's stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock 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.