CoreWeave (NASDAQ:CRWV) Stock Price Down 3.3% After Insider Selling

Key Points

• CoreWeave shares fell 3.3% on Monday after insider selling, with the stock trading as low as $98.65 and volume running well above average.
• Recent filings showed multiple insiders sold shares, including CEO Michael N. Intrator and executives Jeff Baker and Brian M. Venturo, with Baker nearly exiting his position entirely.
• Despite the weakness, analysts remain broadly constructive: CoreWeave has a “Moderate Buy” consensus and an average price target of $129.63, while the company continues to post rapid revenue growth even as earnings remain negative.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price traded down 3.3% on Monday following insider selling activity. The company traded as low as $98.65 and last traded at $103.77. 36,882,949 shares changed hands during trading, an increase of 31% from the average session volume of 28,185,713 shares. The stock had previously closed at $107.30.

Specifically, insider Jeff Baker sold 42,515 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $113.94, for a total transaction of $4,844,159.10. Following the transaction, the insider owned 14 shares of the company's stock, valued at approximately $1,595.16. This represents a 99.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian M. Venturo sold 76,924 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.55, for a total value of $8,503,948.20. 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, CEO Michael N. Intrator sold 107,693 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $105.67, for a total transaction of $11,379,919.31. Following the transaction, the chief executive officer owned 4,657,101 shares of the company's stock, valued at approximately $492,115,862.67. This represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Oppenheimer upped their price objective on CoreWeave from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $135.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Citizens Jmp reaffirmed a "market outperform" rating and set a $180.00 price objective on shares of CoreWeave in a report on Friday, February 27th. Sanford C. Bernstein upped their price objective on CoreWeave from $56.00 to $67.00 and gave the stock an "underperform" rating in a report on Tuesday, April 14th. Finally, Truist Financial upped their price objective on CoreWeave from $85.00 to $131.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, CoreWeave has an average rating of "Moderate Buy" and a consensus price target of $129.63.

CoreWeave Stock Down 3.3%

The firm's 50-day simple moving average is $97.44 and its 200 day simple moving average is $91.67. The company has a market cap of $46.44 billion, a P/E ratio of -33.37 and a beta of 7.84. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The business had revenue of $1.57 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. CoreWeave's revenue was up 110.4% on a year-over-year basis. On average, research analysts forecast that CoreWeave Inc. will post -4.15 earnings per share for the current fiscal year.

Institutional Trading of CoreWeave

Several institutional investors and hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC bought a new stake in shares of CoreWeave in the 3rd quarter valued at $4,241,000. Vanguard Group Inc. increased its position in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CoreWeave by 6,022.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company's stock valued at $8,075,000 after buying an additional 110,926 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company's stock valued at $4,794,000 after buying an additional 26,907 shares in the last quarter. Finally, Hidden Lake Asset Management LP bought a new stake in shares of CoreWeave in the 3rd quarter valued at $14,814,000.

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.

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