Jack D. Cogen Sells 1,000,000 Shares of CoreWeave Inc. (NASDAQ:CRWV) Stock

Key Points

• Jack D. Cogen, a director at CoreWeave Inc., sold 1,000,000 shares of the company's stock for $100.2 million, reducing his ownership by 6.92%.
• CoreWeave reported a quarterly loss of ($0.27) EPS, missing analysts' expectations, but showed a significant year-over-year revenue growth of 206.7%.
• Analysts have varied opinions on CoreWeave, with ratings ranging from sell to strong buy, reflecting an average target price of $99.80.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) Director Jack D. Cogen sold 1,000,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $100.20, for a total value of $100,200,000.00. Following the completion of the transaction, the director directly owned 13,441,680 shares in the company, valued at $1,346,856,336. The trade was a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CoreWeave Stock Performance

Shares of CRWV stock traded down $3.17 during trading hours on Monday, reaching $96.80. The company had a trading volume of 33,549,854 shares, compared to its average volume of 19,848,037. The firm's 50 day simple moving average is $138.34. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. CoreWeave Inc. has a 1-year low of $33.51 and a 1-year high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The company had revenue of $1.21 million for the quarter. CoreWeave's quarterly revenue was up 206.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CRWV shares. Citizens Jmp raised CoreWeave to a "hold" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of CoreWeave in a report on Wednesday, August 13th. Macquarie boosted their target price on CoreWeave from $65.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Arete started coverage on CoreWeave in a report on Thursday, June 5th. They issued a "neutral" rating and a $130.00 target price on the stock. Finally, Mizuho reissued a "neutral" rating and issued a $150.00 target price (up from $70.00) on shares of CoreWeave in a report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $99.80.

Hedge Funds Weigh In On CoreWeave

Large investors have recently added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new position in CoreWeave during the 2nd quarter worth about $33,000. Archer Investment Corp bought a new position in CoreWeave during the 2nd quarter worth about $34,000. Chilton Capital Management LLC bought a new position in CoreWeave during the 2nd quarter worth about $39,000. TD Waterhouse Canada Inc. bought a new position in CoreWeave during the 2nd quarter worth about $47,000. Finally, Montag A & Associates Inc. bought a new position in CoreWeave during the 2nd quarter worth about $49,000.

About CoreWeave

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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