CoreWeave (NASDAQ:CRWV) Shares Down 2.2% After Insider Selling

Key Points

• CoreWeave shares fell 2.2% after insider selling was disclosed, with the stock trading as low as $93.50 amid heavier-than-normal volume.
• CEO Michael N. Intrator sold 107,692 shares and separately 200,000 shares under pre-arranged Rule 10b5-1 plans, while insider Brannin McBee also sold 25,000 shares.
• Despite the selloff, analyst sentiment remains broadly positive: the stock has a Moderate Buy consensus and an average price target of $135, while recent firms including Rosenblatt and Cantor Fitzgerald issued bullish ratings and targets.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s share price traded down 2.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $93.50 and last traded at $96.58. Approximately 47,510,531 shares traded hands during mid-day trading, an increase of 66% from the average session volume of 28,580,314 shares. The stock had previously closed at $98.76.

Specifically, CEO Michael N. Intrator sold 107,692 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $106.81, for a total value of $11,502,582.52. Following the transaction, the chief executive officer directly owned 3,474,020 shares in the company, valued at $371,060,076.20. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $106.81, for a total transaction of $21,362,000.00. Following the sale, the chief executive officer directly owned 3,276,815 shares of the company's stock, valued at approximately $349,996,610.15. This trade represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other CoreWeave news, insider Brannin Mcbee sold 25,000 shares of CoreWeave stock in a transaction that occurred on 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 transaction, the insider directly owned 402,852 shares of the company's stock, valued at $44,829,370.56. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CRWV shares. Sanford C. Bernstein reissued an "underperform" rating on shares of CoreWeave in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of CoreWeave from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Mizuho upped their price target on shares of CoreWeave from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Wells Fargo & Company raised their price objective on CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $135.00 price objective on shares of CoreWeave in a research report on Friday, May 8th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, CoreWeave has a consensus rating of "Moderate Buy" and an average price target of $135.00.

CoreWeave News Roundup

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, signaling significant upside potential and reinforcing bullish sentiment around CoreWeave’s AI infrastructure role.
• Positive Sentiment: Cantor Fitzgerald reiterated an Overweight rating and $167 price target after reviewing details in CoreWeave’s bond offering memo, with analysts viewing the company as a key beneficiary of the upcoming AI chip cycle.
• Positive Sentiment: CoreWeave announced a partnership with Conapto to expand AI cloud capacity in Sweden, a development that supports international growth and capacity expansion. CoreWeave and Conapto partner to expand AI cloud capacity in Sweden
• Neutral Sentiment: CoreWeave was highlighted in a list of stocks that could potentially double over the next two years, which reflects bullish long-term sentiment but is more of a promotional market view than a direct business update. Here is why CoreWeave, Inc. (CRWV) is among the 10 Stocks That Could Double Over the Next 2 Years
• Neutral Sentiment: Multiple insider sales were disclosed, including CEO Michael Intrator and insider Brannin McBee, but the trades were made under pre-arranged 10b5-1 plans, which often makes them less alarming to investors than discretionary selling.
• Negative Sentiment: The insider selling may still pressure sentiment near term, especially given the size of some recent transactions and the fact that the stock has already been volatile.

CoreWeave Stock Down 2.2%

The firm's 50 day moving average price is $110.86 and its two-hundred day moving average price is $94.60. The firm has a market capitalization of $43.23 billion, a PE ratio of -31.05 and a beta of 7.14. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly 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 return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $2.08 billion for the quarter. During the same quarter last year, the business earned ($0.60) earnings per share. CoreWeave's revenue for the quarter was up 111.6% compared to the same quarter last year. As a group, research analysts forecast that CoreWeave Inc. will post -4.83 EPS for the current fiscal year.

Institutional Trading of CoreWeave

Several institutional investors and hedge funds have recently bought and sold shares of CRWV. Cornerstone Planning Group LLC grew its position in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 251 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in CoreWeave during the third quarter worth $27,000. Cullen Frost Bankers Inc. lifted its stake in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock worth $28,000 after purchasing an additional 121 shares during the last quarter. Greenline Wealth Management LLC acquired a new position in CoreWeave in the fourth quarter worth $28,000. Finally, Peterson Wealth Services boosted its holdings in CoreWeave by 153.1% in the first quarter. Peterson Wealth Services now owns 405 shares of the company's stock worth $31,000 after purchasing an additional 245 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.