CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading Down 1.9% - Here's Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s stock price was down 1.9% during trading on Monday . The company traded as low as $40.51 and last traded at $40.75. Approximately 1,844,999 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 13,693,856 shares. The stock had previously closed at $41.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRWV shares. Wells Fargo & Company started coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set an "equal weight" rating and a $41.00 price target on the stock. Citigroup initiated coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $43.00 target price on the stock. Mizuho assumed coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $46.00 price target for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set a "buy" rating and a $51.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $46.86.

CoreWeave, Inc. Class A Common Stock Trading Up 16.4 %

Insiders Place Their Bets

In related news, CFO Nitin Agrawal sold 12,720 shares of the business'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 value of $508,800.00. Following the transaction, the chief financial officer now directly owns 231,811 shares of the company's stock, valued at approximately $9,272,440. The trade was a 5.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack D. Cogen sold 220,760 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $47.56, for a total transaction 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 trade represents a 63.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,940 shares of company stock worth $13,786,546.

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.