CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Down 5% - Here's Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) traded down 5% during mid-day trading on Tuesday . The company traded as low as $149.59 and last traded at $153.98. 11,205,584 shares were traded during trading, a decline of 48% from the average session volume of 21,547,480 shares. The stock had previously closed at $162.10.

Wall Street Analyst Weigh In

CRWV has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft began 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. Mizuho increased their target price on CoreWeave, Inc. Class A Common Stock from $46.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of CoreWeave, Inc. Class A Common Stock in a research note on Thursday, May 15th. Finally, Arete began coverage on CoreWeave, Inc. Class A Common Stock in a report on Thursday, June 5th. They issued a "neutral" rating and a $130.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CoreWeave, Inc. Class A Common Stock has an average rating of "Hold" and a consensus price target of $65.00.

CoreWeave, Inc. Class A Common Stock Price Performance

The business has a 50 day simple moving average of $77.30.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last posted 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 news, insider Kristen J. Mcveety sold 69,460 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a filing 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 on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the sale, the chief financial officer now directly owns 231,811 shares in the company, valued at approximately $9,272,440. This trade represents a 5.20% decrease in their position. The disclosure for this sale can be found here.

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 shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.