CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Down 6.6% - Should You Sell?

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s stock price dropped 6.6% during trading on Wednesday . The stock traded as low as $114.00 and last traded at $115.74. Approximately 12,302,945 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 18,275,496 shares. The stock had previously closed at $123.97.

Wall Street Analyst Weigh In

CRWV has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on CoreWeave, Inc. Class A Common Stock from $43.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Northland Capmk upgraded CoreWeave, Inc. Class A Common Stock to a "strong-buy" rating in a research note on Tuesday, May 13th. Citigroup upped their price objective on CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Wall Street Zen lowered CoreWeave, Inc. Class A Common Stock from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group upped their price objective on CoreWeave, Inc. Class A Common Stock from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $60.94.

CoreWeave, Inc. Class A Common Stock Stock Performance

The stock has a 50 day moving average of $58.00.

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

Insider Buying and Selling

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 shares were sold at an average price of $40.00, for a total value 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 $9,272,440. The trade was a 5.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack D. Cogen sold 220,760 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the completion of the transaction, the director now directly owns 126,220 shares of the company's stock, valued at $6,003,023.20. This trade represents a 63.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 302,940 shares of company stock valued at $13,786,546 over the last 90 days.

Institutional Trading of 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 filing with the SEC. The institutional investor acquired 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.