CoreWeave (NASDAQ:CRWV) Major Shareholder Magnetar Financial Llc Sells 209,157 Shares

Key Points

• Magnetar Financial LLC sold 209,157 CoreWeave shares on May 1 at an average price of $119.91 for $25.08M and has executed multiple large April–May dispositions (including 2.6M shares on Apr 15 for ~$309M and 1.284M shares on May 1 for ~$154M), reducing its stake by 21.91% to 745,638 shares.
• CoreWeave reported revenue of $1.57B (up 110.4% YoY) but remains unprofitable (quarterly EPS -$0.89, negative margins); the stock has a $52.7B market cap and a "Moderate Buy" analyst consensus with an average target of $126.69.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) major shareholder Magnetar Financial Llc sold 209,157 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $119.91, for a total transaction of $25,080,015.87. Following the completion of the sale, the insider directly owned 745,638 shares in the company, valued at approximately $89,409,452.58. This trade represents a 21.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Magnetar Financial Llc also recently made the following trade(s):

• On Thursday, April 30th, Magnetar Financial Llc sold 6,564 shares of CoreWeave stock. The stock was sold at an average price of $117.84, for a total transaction of $773,501.76.
• On Friday, May 1st, Magnetar Financial Llc sold 1,284,876 shares of CoreWeave stock. The stock was sold at an average price of $119.91, for a total transaction of $154,069,481.16.
• On Wednesday, April 22nd, Magnetar Financial Llc sold 961,169 shares of CoreWeave stock. The stock was sold at an average price of $122.14, for a total transaction of $117,397,181.66.
• On Wednesday, April 22nd, Magnetar Financial Llc sold 857,367 shares of CoreWeave stock. The stock was sold at an average price of $122.14, for a total transaction of $104,718,805.38.
• On Wednesday, April 22nd, Magnetar Financial Llc sold 620,672 shares of CoreWeave stock. The stock was sold at an average price of $122.14, for a total transaction of $75,808,878.08.
• On Thursday, April 23rd, Magnetar Financial Llc sold 296,160 shares of CoreWeave stock. The stock was sold at an average price of $122.21, for a total transaction of $36,193,713.60.
• On Friday, April 24th, Magnetar Financial Llc sold 2,770 shares of CoreWeave stock. The stock was sold at an average price of $119.56, for a total transaction of $331,181.20.
• On Tuesday, April 21st, Magnetar Financial Llc sold 323,452 shares of CoreWeave stock. The stock was sold at an average price of $118.26, for a total transaction of $38,251,433.52.
• On Monday, April 20th, Magnetar Financial Llc sold 319,835 shares of CoreWeave stock. The stock was sold at an average price of $117.33, for a total transaction of $37,526,240.55.
• On Wednesday, April 15th, Magnetar Financial Llc sold 2,604,094 shares of CoreWeave stock. The stock was sold at an average price of $118.67, for a total transaction of $309,027,834.98.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $119.01 on Monday. CoreWeave Inc. has a one year low of $45.80 and a one year high of $187.00. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46. The company's 50-day simple moving average is $91.88 and its 200 day simple moving average is $92.51. The firm has a market capitalization of $52.72 billion, a P/E ratio of -37.19 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The business had revenue of $1.57 billion for the quarter. CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The business's revenue for the quarter was up 110.4% on a year-over-year basis. As a group, analysts forecast that CoreWeave Inc. will post -4.15 EPS for the current fiscal year.

Analyst Ratings Changes

CRWV has been the topic of several analyst reports. Mizuho upped their target price on shares of CoreWeave from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. HC Wainwright reiterated a "buy" rating and issued a $180.00 target price on shares of CoreWeave in a research note on Monday, March 2nd. Wolfe Research initiated coverage on shares of CoreWeave in a research note on Thursday, April 16th. They issued an "outperform" rating and a $150.00 target price on the stock. DA Davidson upped their target price on shares of CoreWeave from $125.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group initiated coverage on shares of CoreWeave in a research note on Monday, January 12th. They issued a "neutral" rating and a $86.00 target price on the stock. Twenty investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, CoreWeave currently has a consensus rating of "Moderate Buy" and an average target price of $126.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. OLD Second National Bank of Aurora purchased a new position in shares of CoreWeave during the third quarter valued at approximately $27,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of CoreWeave during the third quarter valued at approximately $27,000. Aspect Partners LLC bought a new position in shares of CoreWeave in the third quarter worth approximately $28,000. Rothschild Investment LLC boosted its position in shares of CoreWeave by 10,700.0% in the third quarter. Rothschild Investment LLC now owns 216 shares of the company's stock worth $30,000 after purchasing an additional 214 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CoreWeave in the third quarter worth approximately $30,000.

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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