CoreWeave (NASDAQ:CRWV) Stock Price Down 1.8% After Insider Selling

Key Points

• CoreWeave shares fell 1.8% to $86.25 after three insiders sold shares totaling about $1.83 million. The sales were made to cover tax-withholding obligations tied to vested equity awards.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $141.90; recent targets range from $121 to $250.
• CoreWeave reported strong operating growth, including 112.5% year-over-year revenue growth to $2.58 billion and a smaller-than-expected quarterly loss, though it continues to post negative margins and carries substantial leverage.

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) traded down 1.8% during trading on Monday following insider selling activity. The stock traded as low as $83.23 and last traded at $86.25. 18,310,578 shares traded hands during trading, a decline of 36% from the average daily volume of 28,767,770 shares. The stock had previously closed at $87.85.

Specifically, CFO Nitin Agrawal sold 10,062 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $91.88, for a total value of $924,496.56. Following the transaction, the chief financial officer directly owned 138,105 shares in the company, valued at $12,689,087.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeff Baker sold 1,256 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $91.88, for a total transaction of $115,401.28. Following the sale, the insider directly owned 8,337 shares in the company, valued at approximately $766,003.56. The trade was a 13.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, EVP Chen Goldberg sold 8,628 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $91.88, for a total transaction of $792,740.64. Following the completion of the sale, the executive vice president owned 72,974 shares in the company, valued at approximately $6,704,851.12. The trade was a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Ratings Changes

A number of research analysts recently commented on CRWV shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of CoreWeave in a research report on Wednesday, August 12th. The Goldman Sachs Group boosted their price target on shares of CoreWeave from $121.00 to $139.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup upped their price objective on shares of CoreWeave from $142.00 to $159.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Needham & Company LLC restated a "hold" rating on shares of CoreWeave in a research note on Thursday, August 13th. Finally, BNP Paribas Exane assumed coverage on CoreWeave in a report on Tuesday, June 2nd. They set an "outperform" rating and a $192.00 price objective on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.90.

CoreWeave Trading Down 1.8%

The business's 50 day simple moving average is $89.99 and its 200 day simple moving average is $94.79. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market capitalization of $39.58 billion, a price-to-earnings ratio of -23.63 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business had revenue of $2.58 billion during the quarter. During the same quarter last year, the company posted ($0.27) EPS. CoreWeave's quarterly revenue was up 112.5% on a year-over-year basis. Research analysts anticipate that CoreWeave Inc. will post -5.17 EPS for the current year.

Institutional Trading of CoreWeave

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after purchasing an additional 20,487,478 shares during the period. Legal & General Group Plc increased its stake in CoreWeave by 8,455.6% in the 4th quarter. Legal & General Group Plc now owns 611,301 shares of the company's stock valued at $43,775,000 after buying an additional 604,156 shares during the period. Bank of New York Mellon Corp raised its position in CoreWeave by 12.6% during the 1st quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company's stock worth $27,401,000 after buying an additional 39,599 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of CoreWeave by 25.5% in the 1st quarter. California State Teachers Retirement System now owns 320,011 shares of the company's stock worth $24,791,000 after acquiring an additional 64,960 shares during the period. Finally, Ardmore Road Asset Management LP lifted its stake in shares of CoreWeave by 3,410.0% in the 1st quarter. Ardmore Road Asset Management LP now owns 351,000 shares of the company's stock worth $27,192,000 after acquiring an additional 341,000 shares during the period.

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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