CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading 3.3% Higher - Here's What Happened

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s stock price shot up 3.3% during mid-day trading on Friday . The stock traded as high as $106.79 and last traded at $103.43. 17,723,151 shares were traded during trading, an increase of 1% from the average session volume of 17,515,725 shares. The stock had previously closed at $100.16.

Analysts Set New Price Targets

A number of brokerages recently commented on CRWV. Citigroup increased their price objective on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Melius Research upgraded CoreWeave, Inc. Class A Common Stock to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America raised their target price on shares of CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Stifel Nicolaus assumed coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued a "buy" rating and a $55.00 price target for the company. Finally, Melius started coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $60.94.

CoreWeave, Inc. Class A Common Stock Price Performance

The business has a 50 day simple moving average of $55.18.

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

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In related news, CFO Nitin Agrawal sold 12,720 shares of the 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 completion of the transaction, the chief financial officer now directly owns 231,811 shares of the company's stock, valued at $9,272,440. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 302,940 shares of company stock worth $13,786,546.

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 bought 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 disclosure with the Securities & 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.