CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading Down 5.2% - Here's What Happened

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) shares traded down 5.2% during trading on Wednesday . The company traded as low as $145.70 and last traded at $146.86. 12,425,740 shares traded hands during mid-day 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

A number of research analysts have commented on the company. Citizens Jmp raised CoreWeave, Inc. Class A Common Stock to a "hold" rating in a report on Thursday, May 22nd. Melius Research upgraded CoreWeave, Inc. Class A Common Stock to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America lifted their target price on CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. The Goldman Sachs Group raised their target price on CoreWeave, Inc. Class A Common Stock from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. raised their target price on CoreWeave, Inc. Class A Common Stock from $43.00 to $66.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $65.00.

CoreWeave, Inc. Class A Common Stock Price Performance

The business's 50-day moving average price is $79.37.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last released its 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).

Insider Buying and Selling

In other news, insider Kristen J. Mcveety sold 69,460 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 $2,778,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $508,800.00. Following the completion of 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 Investors Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL acquired a new stake in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 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.