CoreWeave (NASDAQ:CRWV) Trading Down 6.1% After Insider Selling

Key Points

• CoreWeave shares fell 6.1% after mid-day trading on Friday, with the stock dipping as low as $106.44 amid heavier-than-usual volume concerns tied to recent insider selling.
• Several insiders sold stock this week, including CEO Michael Intrator and co-founder Brian Venturo, though the transactions were made under pre-arranged Rule 10b5-1 plans.
• Despite the pullback, analyst sentiment remains broadly positive: CoreWeave has a Moderate Buy consensus rating, and Citigroup recently raised its price target to $158 while keeping a buy rating.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares were down 6.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $106.44 and last traded at $107.30. Approximately 21,159,007 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 28,089,404 shares. The stock had previously closed at $114.21.

Specifically, insider Jeff Baker sold 42,515 shares of CoreWeave stock in a transaction dated 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 sale, the insider directly owned 14 shares of the company's stock, valued at approximately $1,595.16. The trade was a 99.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian M. Venturo sold 76,924 shares of CoreWeave stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.55, for a total value of $8,503,948.20. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, CEO Michael N. Intrator sold 107,693 shares of CoreWeave stock in a transaction dated 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 sale, the chief executive officer directly owned 4,657,101 shares of the company's stock, valued at approximately $492,115,862.67. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

CRWV has been the topic of several research reports. Bank of America upgraded CoreWeave from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Tuesday, March 24th. Wells Fargo & Company upped their price objective on CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price target on CoreWeave from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Citigroup increased their price target on CoreWeave from $155.00 to $158.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Truist Financial increased their price target on CoreWeave from $85.00 to $131.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Twenty analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $131.97.

Trending Headlines about CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave launched Sandboxes, a new AI execution layer designed for secure, isolated agent workloads, debugging, and reinforcement learning at scale. The product could help the company monetize higher-value AI infrastructure use cases and strengthen its position in fast-growing AI agent workloads. CoreWeave Sandboxes Targets AI Agent Workloads And Higher Value Monetization
• Positive Sentiment: Citigroup raised its price target on CoreWeave to $158 and kept a buy rating, reinforcing bullish sentiment around the stock. CoreWeave NASDAQ: CRWV Given New $158.00 Price Target at Citigroup
• Positive Sentiment: Coverage highlighting CoreWeave as a beneficiary of rising AI data center spending suggests investors are still rotating into AI infrastructure names beyond chips. 3 AI Data Center Stocks Worth Watching for Capital Rotation (CRWV)
• Neutral Sentiment: CoreWeave will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 19, which could provide a catalyst if management shares new business updates, but the event itself is mostly informational. CoreWeave to Participate in the J.P. Morgan Global Technology, Media and Communications Conference
• Negative Sentiment: Insider sales by co-founder Brian Venturo and CEO Michael Intrator may weigh on sentiment, even though the transactions were made under pre-arranged trading plans. Brian Venturo Sells 375,000 Shares of CoreWeave NASDAQ: CRWV Stock

CoreWeave Stock Performance

The stock has a market cap of $48.02 billion, a P/E ratio of -34.50 and a beta of 7.84. The company has a fifty day moving average of $96.89 and a 200 day moving average of $91.87. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.46.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced 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). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $1.57 billion for the quarter. The company's revenue was up 110.4% on a year-over-year basis. On average, equities analysts predict that CoreWeave Inc. will post -4.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after buying an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC raised its stake in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock valued at $2,443,013,000 after purchasing an additional 17,847,760 shares during the period. Clear Street Group Inc. raised its stake in CoreWeave by 57.2% during the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company's stock valued at $333,260,000 after purchasing an additional 1,692,916 shares during the period. Alyeska Investment Group L.P. raised its stake in CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock valued at $286,440,000 after purchasing an additional 3,000,000 shares during the period. Finally, Deutsche Bank AG raised its stake in CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company's stock valued at $273,039,000 after purchasing an additional 3,796,077 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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