CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Sets New 12-Month High - Here's What Happened

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $64.87 and last traded at $63.26, with a volume of 9976425 shares trading hands. The stock had previously closed at $58.49.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRWV. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 target price on shares of CoreWeave, Inc. Class A Common Stock in a report on Thursday. Northland Capmk upgraded shares of CoreWeave, Inc. Class A Common Stock to a "strong-buy" rating in a report on Tuesday. Stifel Nicolaus assumed coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set a "buy" rating and a $55.00 target price on the stock. Wells Fargo & Company lifted their target price on CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Melius began coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $55.25.

CoreWeave, Inc. Class A Common Stock Stock Up 22.1%

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

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In other CoreWeave, Inc. Class A Common Stock news, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the sale, the chief financial officer now owns 231,811 shares in the company, valued at approximately $9,272,440. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here. Insiders sold a total of 302,940 shares of company stock valued at $13,786,546 over the last three months.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,575 shares of the company's stock, valued at approximately $318,000.

About CoreWeave, Inc. Class A Common Stock

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.