CoreWeave (NASDAQ:CRWV) CEO Michael Intrator Sells 200,000 Shares

Key Points

• CEO Michael Intrator sold 200,000 CoreWeave shares at an average price of $78.23, generating $15.65 million. The sale occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 2.48 million shares.
• CoreWeave shares fell 5.9% to $66.58 and remain well below their 50-day and 200-day moving averages. The company reported strong 111.6% year-over-year revenue growth but missed quarterly earnings expectations and continues to post negative profitability.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $136.25, despite significant variation in individual targets ranging from $100 to $250.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) CEO Michael Intrator sold 200,000 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $78.23, for a total transaction of $15,646,000.00. Following the transaction, the chief executive officer owned 2,476,815 shares of the company's stock, valued at approximately $193,761,237.45. This represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CoreWeave Stock Down 5.9%

Shares of NASDAQ:CRWV traded down $4.21 during midday trading on Tuesday, reaching $66.58. The company had a trading volume of 14,358,846 shares, compared to its average volume of 28,020,781. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The business's 50 day moving average price is $96.38 and its 200 day moving average price is $95.39. The stock has a market cap of $29.80 billion, a PE ratio of -21.47 and a beta of 7.17. CoreWeave Inc. has a 1-year low of $63.80 and a 1-year high of $153.20.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business's revenue was up 111.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.60) earnings per share. Research analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Institutional Trading of CoreWeave

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of CoreWeave by 4.0% during the first quarter. Parallel Advisors LLC now owns 2,340 shares of the company's stock worth $181,000 after purchasing an additional 91 shares during the period. Pathway Wealth Management LLC boosted its stake in shares of CoreWeave by 2.9% in the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company's stock valued at $278,000 after buying an additional 100 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in shares of CoreWeave by 2.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company's stock valued at $389,000 after buying an additional 104 shares during the period. Hazlett Burt & Watson Inc. grew its position in CoreWeave by 34.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company's stock worth $33,000 after buying an additional 119 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock worth $28,000 after buying an additional 121 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on CRWV. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of CoreWeave in a research note on Thursday, July 2nd. Wells Fargo & Company upped their price target on shares of CoreWeave from $135.00 to $155.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $135.00 price target on shares of CoreWeave in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, Robert W. Baird started coverage on shares of CoreWeave in a research note on Tuesday, July 21st. They set an "outperform" rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $136.25.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.

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