CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading Down 5.2% - Should You Sell?

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s stock price traded down 5.2% on Wednesday . The stock traded as low as $145.70 and last traded at $146.86. 12,425,740 shares traded hands during trading, a decline of 42% from the average session volume of 21,589,713 shares. The stock had previously closed at $154.90.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. DA Davidson restated an "underperform" rating and set a $36.00 target price on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday. Melius began coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set a "hold" rating and a $40.00 target price for the company. Wells Fargo & Company raised their price objective on CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 15th. Mizuho raised their price objective on CoreWeave, Inc. Class A Common Stock from $46.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Macquarie raised their price objective on CoreWeave, Inc. Class A Common Stock from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.00.

CoreWeave, Inc. Class A Common Stock Stock Down 0.5%

The company's 50 day simple moving average is $75.32.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insiders Place Their Bets

In related news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $2,778,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction dated 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 owns 231,811 shares of the company's stock, valued at approximately $9,272,440. The trade was a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.

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 purchased a new stake in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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.