CoreWeave (NASDAQ:CRWV) Major Shareholder Magnetar Financial Llc Sells 286,323 Shares

Key Points

• Magnetar Financial LLC sold 286,323 shares of CoreWeave on October 1, significantly reducing their stake by 45.01%, with a total transaction value of $39.26 million.
• In a series of trades, Magnetar Financial LLC sold over 3.6 million shares of CoreWeave stock between September 18-30, 2023, at prices ranging from $120.62 to $139.55.
• CoreWeave's stock prices have fluctuated with a one-year range of $33.51 to $187.00, currently trading around $138, reflecting a 0.7% increase in midday trading.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) major shareholder Magnetar Financial Llc sold 286,323 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $137.11, for a total transaction of $39,257,746.53. Following the sale, the insider owned 349,760 shares of the company's stock, valued at $47,955,593.60. This trade represents a 45.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Tuesday, September 30th, Magnetar Financial Llc sold 732,944 shares of CoreWeave stock. The stock was sold at an average price of $139.55, for a total transaction of $102,282,335.20.
• On Tuesday, September 30th, Magnetar Financial Llc sold 581,484 shares of CoreWeave stock. The stock was sold at an average price of $139.55, for a total transaction of $81,146,092.20.
• On Tuesday, September 30th, Magnetar Financial Llc sold 99,691 shares of CoreWeave stock. The stock was sold at an average price of $139.55, for a total transaction of $13,911,879.05.
• On Thursday, September 25th, Magnetar Financial Llc sold 1,113,847 shares of CoreWeave stock. The stock was sold at an average price of $136.38, for a total transaction of $151,906,453.86.
• On Thursday, September 25th, Magnetar Financial Llc sold 185,627 shares of CoreWeave stock. The shares were sold at an average price of $136.38, for a total transaction of $25,315,810.26.
• On Thursday, September 18th, Magnetar Financial Llc sold 1,059,358 shares of CoreWeave stock. The shares were sold at an average price of $120.62, for a total value of $127,779,761.96.
• On Thursday, September 18th, Magnetar Financial Llc sold 176,512 shares of CoreWeave stock. The shares were sold at an average price of $120.62, for a total value of $21,290,877.44.
• On Friday, September 19th, Magnetar Financial Llc sold 1,451,063 shares of CoreWeave stock. The stock was sold at an average price of $125.60, for a total value of $182,253,512.80.
• On Friday, September 19th, Magnetar Financial Llc sold 1,151,054 shares of CoreWeave stock. The stock was sold at an average price of $125.60, for a total value of $144,572,382.40.
• On Friday, September 19th, Magnetar Financial Llc sold 197,336 shares of CoreWeave stock. The stock was sold at an average price of $125.60, for a total value of $24,785,401.60.

CoreWeave Trading Up 0.7%

Shares of NASDAQ:CRWV traded up $0.95 during midday trading on Thursday, reaching $138.00. 21,499,154 shares of the company's stock traded hands, compared to its average volume of 34,054,084. CoreWeave Inc. has a one year low of $33.51 and a one year high of $187.00. The stock's 50 day moving average price is $111.53. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The company had revenue of $1.21 million during the quarter. The business's quarterly revenue was up 206.7% compared to the same quarter last year. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRWV. Gamco Investors INC. ET AL bought a new stake in CoreWeave in the 1st quarter valued at about $318,000. Goldman Sachs Group Inc. purchased a new position in CoreWeave during the first quarter valued at approximately $963,000. Howard Financial Services LTD. purchased a new stake in shares of CoreWeave in the 2nd quarter valued at $489,000. McAlister Sweet & Associates Inc. purchased a new position in shares of CoreWeave in the second quarter worth $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in CoreWeave during the 2nd quarter valued at $117,000.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Hsbc Global Res upgraded CoreWeave to a "moderate sell" rating in a research note on Thursday, July 17th. JMP Securities upgraded CoreWeave from a "market perform" rating to a "market outperform" rating and set a $180.00 target price on the stock in a research report on Tuesday, September 16th. Raymond James Financial initiated coverage on CoreWeave in a research note on Monday, September 15th. They issued an "outperform" rating and a $130.00 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of CoreWeave in a report on Wednesday, August 13th. Finally, Barclays raised their target price on shares of CoreWeave from $100.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $127.64.

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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