CoreWeave (NASDAQ:CRWV) Major Shareholder Sells $94,435,524.63 in Stock

Key Points

• Magnetar Financial Llc, a major shareholder of CoreWeave, sold 915,339 shares at an average price of $103.17, significantly reducing its position by 69.95%.
• CoreWeave recently reported a net loss of $0.27 per share for the latest quarter, falling short of analyst estimates, although its revenue was up by 206.7% year-over-year.
• Recent analyst ratings for CoreWeave include price target increases from Stifel Nicolaus and Barclays, indicating ongoing interest despite the recent stock sales.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) major shareholder Magnetar Financial Llc sold 915,339 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $103.17, for a total value of $94,435,524.63. Following the transaction, the insider directly owned 393,283 shares in the company, valued at $40,575,007.11. This represents a 69.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Friday, August 22nd, Magnetar Financial Llc sold 20,733 shares of CoreWeave stock. The shares were sold at an average price of $98.19, for a total value of $2,035,773.27.
• On Friday, August 15th, Magnetar Financial Llc sold 915,382 shares of CoreWeave stock. The shares were sold at an average price of $100.15, for a total value of $91,675,507.30.
• On Monday, August 18th, Magnetar Financial Llc sold 549,682 shares of CoreWeave stock. The shares were sold at an average price of $100.78, for a total value of $55,396,951.96.

CoreWeave Stock Up 0.2%

Shares of NASDAQ CRWV traded up $0.25 during trading on Friday, reaching $103.04. 23,912,054 shares of the stock traded hands, compared to its average volume of 26,752,260. CoreWeave Inc. has a 52-week low of $33.51 and a 52-week high of $187.00. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a 50-day moving average of $126.36.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The firm had revenue of $1.21 million during the quarter. The business's 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.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on CoreWeave from $60.00 to $105.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. The Goldman Sachs Group increased their price objective on CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on CoreWeave from $43.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Bank of America dropped their price objective on CoreWeave from $185.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Finally, Morgan Stanley increased their price objective on CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $107.45.

Hedge Funds Weigh In On CoreWeave

Several institutional investors have recently modified their holdings of the company. Nvidia Corp increased its position in shares of CoreWeave by 0.4% during the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company's stock valued at $3,958,701,000 after purchasing an additional 95,113 shares during the last quarter. Cisco Systems Inc. bought a new position in shares of CoreWeave during the 2nd quarter valued at about $173,493,000. Geode Capital Management LLC increased its position in shares of CoreWeave by 142.6% during 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 last quarter. Lmdagg L.L.C. bought a new position in shares of CoreWeave during the 2nd quarter valued at about $48,030,000. Finally, Sivia Capital Partners LLC bought a new position in shares of CoreWeave during the 2nd quarter valued at about $39,824,000.

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.