CoreWeave (NASDAQ:CRWV) Shares Down 2.1% Following Insider Selling

Key Points

• CoreWeave shares fell 2.1% in mid-day trading after insider selling, briefly touching $98.42 before last trading around $98.76.
• Insider Brannin Mcbee sold multiple blocks of shares on June 22 under a pre-arranged Rule 10b5-1 plan, including a sale of 144,000 shares worth about $16.0 million at an average price of $111.28.
• Analysts remain broadly optimistic on the stock, with 21 Buy ratings and an average target price of $135, while Rosenblatt recently initiated coverage with a $250 price target.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares fell 2.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $98.42 and last traded at $98.76. 21,554,092 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 28,452,693 shares. The stock had previously closed at $100.88.

Specifically, insider Brannin Mcbee sold 25,000 shares of CoreWeave stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $111.28, for a total transaction of $2,782,000.00. Following the sale, the insider owned 402,852 shares of the company's stock, valued at approximately $44,829,370.56. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 144,000 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $111.28, for a total transaction of $16,024,320.00. Following the transaction, the insider owned 258,852 shares in the company, valued at $28,805,050.56. This represents a 35.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, insider Brannin Mcbee sold 28,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $111.28, for a total value of $3,115,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

CRWV has been the topic of several research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $167.00 price objective on shares of CoreWeave in a research report on Thursday, June 11th. Citigroup increased their target price on CoreWeave from $155.00 to $158.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Wolfe Research assumed coverage on CoreWeave in a research report on Thursday, April 16th. They set an "outperform" rating and a $150.00 price target on the stock. Rosenblatt Securities initiated coverage on CoreWeave in a research note on Thursday. They issued a "buy" rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on CoreWeave from $135.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $135.00.

Trending Headlines about CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $250 price target, implying substantial upside and helping boost sentiment around CoreWeave’s valuation. Benzinga article
• Positive Sentiment: CoreWeave announced a new AI cloud capacity expansion in Sweden through a co-location partnership with Conapto, adding two Stockholm campuses and highlighting continued international expansion and demand for its AI cloud platform. Business Wire article
• Positive Sentiment: Media coverage and commentary around CoreWeave’s inclusion in bullish tech-stock lists and Nasdaq 100-related chatter are adding momentum to the stock’s AI-growth narrative. Insider Monkey article

CoreWeave Trading Down 2.1%

The firm has a 50 day simple moving average of $111.23 and a 200 day simple moving average of $94.53. The firm has a market capitalization of $44.20 billion, a PE ratio of -31.76 and a beta of 7.14. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68.

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

Hedge Funds Weigh In On CoreWeave

Several institutional investors have recently made changes to their positions in CRWV. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of CoreWeave during the third quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of CoreWeave in the 3rd quarter worth about $34,000. Cornerstone Planning Group LLC increased its stake in CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock valued at $28,000 after buying an additional 121 shares during the period. Finally, Greenline Wealth Management LLC purchased a new stake in shares of CoreWeave in the fourth quarter valued at $28,000.

CoreWeave Company Profile

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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