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CoreWeave Inc.'s Lock-Up Period Will Expire on August 14th (NASDAQ:CRWV)

CoreWeave logo with Computer and Technology background

Key Points

  • The lock-up period for CoreWeave Inc. (NASDAQ:CRWV) will expire on August 14th, allowing insiders and major shareholders to sell their shares.
  • CoreWeave's IPO raised $1.5 billion with the issuance of 37.5 million shares at an initial price of $40.00.
  • Analysts have mixed ratings on CoreWeave with a consensus price target of $90.20, while stock performance recently showed a trading increase to $139.78.
  • Looking to export and analyze CoreWeave data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

CoreWeave's (NASDAQ:CRWV - Get Free Report) lock-up period will expire on Thursday, August 14th. CoreWeave had issued 37,500,000 shares in its IPO on March 28th. The total size of the offering was $1,500,000,000 based on an initial share price of $40.00. After the expiration of the company's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their price objective on CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Arete Research raised CoreWeave to a "hold" rating in a research note on Thursday, June 5th. JMP Securities assumed coverage on CoreWeave in a report on Thursday, May 22nd. They set a "market perform" rating for the company. Wells Fargo & Company increased their target price on CoreWeave from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Finally, Mizuho reiterated a "neutral" rating and set a $150.00 target price (up previously from $70.00) on shares of CoreWeave in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $90.20.

Read Our Latest Stock Report on CRWV

CoreWeave Stock Performance

Shares of CoreWeave stock traded up $10.23 during trading on Monday, hitting $139.78. The company's stock had a trading volume of 19,340,039 shares, compared to its average volume of 18,713,650. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60. The firm's 50-day moving average is $141.71. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cisco Systems Inc. bought a new position in CoreWeave in the 2nd quarter worth approximately $173,493,000. Geode Capital Management LLC boosted its holdings in CoreWeave by 142.6% in the 2nd quarter. Geode Capital Management LLC now owns 716,178 shares of the company's stock valued at $116,809,000 after purchasing an additional 420,915 shares during the period. Lmdagg L.L.C. bought a new position in CoreWeave in the 2nd quarter valued at $48,030,000. Sivia Capital Partners LLC bought a new position in CoreWeave in the 2nd quarter valued at $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in CoreWeave in the 2nd quarter valued at $34,284,000.

About CoreWeave

(Get Free Report)

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.

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