CoreWeave (NASDAQ:CRWV) Shares Up 5.8% - Here's What Happened

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares traded up 5.8% during trading on Friday . The stock traded as high as $184.70 and last traded at $179.89. 12,584,249 shares changed hands during trading, a decline of 42% from the average session volume of 21,585,314 shares. The stock had previously closed at $170.00.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of CoreWeave from $46.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Jefferies Financial Group assumed coverage on shares of CoreWeave in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on CoreWeave in a research note on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price objective for the company. Northland Capmk raised CoreWeave to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Melius Research raised shares of CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

CoreWeave Stock Performance

The firm's 50-day moving average price is $89.11.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Buying and Selling

In other CoreWeave news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the sale, the chief financial officer now directly owns 231,811 shares in the company, valued at $9,272,440. This represents a 5.20% decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of CoreWeave

A hedge fund recently bought a new stake in CoreWeave stock. Gamco Investors INC. ET AL purchased a new stake in CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,575 shares of the company's stock, valued at approximately $318,000.

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.

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