CoreWeave (NASDAQ:CRWV) Insider Brannin Mcbee Sells 102,835 Shares

Key Points

• Insider Brannin Mcbee sold 102,835 shares on Dec. 15 at an average of $73.57 for about $7.57M, reducing his stake by 35.7% to 185,181 shares; this sale is part of a string of large disposals earlier this quarter (including 150,000 shares at $138.10 on Sept. 30).
• CoreWeave shares fell about 7.1% to $64.55 on heavy volume (47.98M vs. avg 27.90M), with a market cap of $24.94B and a negative P/E of -44.52, reflecting recent volatility versus much higher 50- and 200-day moving averages.
• The company beat Q3 estimates with EPS of ($0.22) vs. ($0.36) expected and posted revenue of $1.36B, up 133.7% year-over-year, indicating rapid top-line growth despite continuing losses.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) insider Brannin Mcbee sold 102,835 shares of the firm's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $73.57, for a total transaction of $7,565,570.95. Following the sale, the insider owned 185,181 shares in the company, valued at approximately $13,623,766.17. The trade was a 35.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Brannin Mcbee also recently made the following trade(s):

• On Monday, December 15th, Brannin Mcbee sold 28,000 shares of CoreWeave stock. The stock was sold at an average price of $73.59, for a total value of $2,060,520.00.
• On Monday, December 15th, Brannin Mcbee sold 35,335 shares of CoreWeave stock. The shares were sold at an average price of $73.58, for a total value of $2,599,949.30.
• On Monday, December 15th, Brannin Mcbee sold 500 shares of CoreWeave stock. The stock was sold at an average price of $73.68, for a total transaction of $36,840.00.
• On Monday, December 8th, Brannin Mcbee sold 63,835 shares of CoreWeave stock. The stock was sold at an average price of $83.80, for a total transaction of $5,349,373.00.
• On Monday, December 8th, Brannin Mcbee sold 102,835 shares of CoreWeave stock. The stock was sold at an average price of $83.80, for a total transaction of $8,617,573.00.
• On Tuesday, December 2nd, Brannin Mcbee sold 34,335 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total transaction of $2,699,074.35.
• On Tuesday, December 2nd, Brannin Mcbee sold 500 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total transaction of $39,305.00.
• On Tuesday, December 2nd, Brannin Mcbee sold 102,835 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total value of $8,083,859.35.
• On Tuesday, December 2nd, Brannin Mcbee sold 29,000 shares of CoreWeave stock. The shares were sold at an average price of $78.61, for a total value of $2,279,690.00.
• On Tuesday, September 30th, Brannin Mcbee sold 150,000 shares of CoreWeave stock. The stock was sold at an average price of $138.10, for a total value of $20,715,000.00.

CoreWeave Stock Down 7.1%

NASDAQ CRWV traded down $4.95 during trading hours on Wednesday, hitting $64.55. 47,983,792 shares of the company traded hands, compared to its average volume of 27,902,342. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49. The business's 50-day moving average is $101.18 and its 200-day moving average is $119.05. The stock has a market capitalization of $24.94 billion and a price-to-earnings ratio of -44.52. CoreWeave Inc. has a twelve month low of $33.51 and a twelve month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. The company's revenue for the quarter was up 133.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.82) EPS.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its stake in CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock worth $2,443,013,000 after buying an additional 17,847,760 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company's stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares during the period. Invesco Ltd. boosted its position in shares of CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company's stock worth $410,454,000 after acquiring an additional 2,993,889 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of CoreWeave during the 3rd quarter worth approximately $405,199,000. Finally, Lavaca Capital LLC bought a new position in CoreWeave in the third quarter valued at approximately $273,700,000.

Analyst Ratings Changes

A number of brokerages have commented on CRWV. Macquarie cut their price target on shares of CoreWeave from $140.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, November 11th. Melius upgraded shares of CoreWeave from a "hold" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Tuesday, September 23rd. Jefferies Financial Group lowered their price target on CoreWeave from $180.00 to $155.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. JMP Securities upgraded CoreWeave from a "market perform" rating to a "market outperform" rating and set a $180.00 price objective on the stock in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group cut their price objective on CoreWeave from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $128.53.

CoreWeave 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.

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