Magnetar Financial Llc Sells 587,010 Shares of CoreWeave (NASDAQ:CRWV) Stock

Key Points

• Magnetar Financial sold 587,010 CoreWeave shares on May 7 at an average price of $129.91, a transaction worth about $76.3 million, cutting its stake by roughly 70.8%.
• The sale came amid a wave of recent insider disposals, with Magnetar also unloading multiple large blocks of CoreWeave stock in the days leading up to the filing, adding pressure to sentiment.
• CoreWeave shares fell on the news, while the company’s latest results showed strong revenue growth but a larger-than-expected loss and softer-than-expected guidance, keeping profitability concerns in focus.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) major shareholder Magnetar Financial Llc sold 587,010 shares of CoreWeave stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $129.91, for a total value of $76,258,469.10. Following the sale, the insider directly owned 242,396 shares in the company, valued at approximately $31,489,664.36. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Magnetar Financial Llc also recently made the following trade(s):

• On Wednesday, May 6th, Magnetar Financial Llc sold 1,202,656 shares of CoreWeave stock. The shares were sold at an average price of $136.73, for a total value of $164,439,154.88.
• On Wednesday, May 6th, Magnetar Financial Llc sold 797,884 shares of CoreWeave stock. The shares were sold at an average price of $136.71, for a total value of $109,078,721.64.
• On Thursday, May 7th, Magnetar Financial Llc sold 159,168 shares of CoreWeave stock. The shares were sold at an average price of $129.91, for a total value of $20,677,514.88.
• On Monday, May 4th, Magnetar Financial Llc sold 1,155,164 shares of CoreWeave stock. The shares were sold at an average price of $127.29, for a total value of $147,040,825.56.
• On Monday, May 4th, Magnetar Financial Llc sold 420,227 shares of CoreWeave stock. The shares were sold at an average price of $127.29, for a total value of $53,490,694.83.
• On Tuesday, May 5th, Magnetar Financial Llc sold 978,764 shares of CoreWeave stock. The shares were sold at an average price of $127.68, for a total value of $124,968,587.52.
• On Tuesday, May 5th, Magnetar Financial Llc sold 349,437 shares of CoreWeave stock. The shares were sold at an average price of $127.68, for a total value of $44,616,116.16.
• On Friday, May 1st, Magnetar Financial Llc sold 209,157 shares of CoreWeave stock. The shares were sold at an average price of $119.91, for a total value of $25,080,015.87.
• On Thursday, April 30th, Magnetar Financial Llc sold 6,564 shares of CoreWeave stock. The shares were sold at an average price of $117.84, for a total transaction of $773,501.76.
• On Friday, May 1st, Magnetar Financial Llc sold 1,284,876 shares of CoreWeave stock. The shares were sold at an average price of $119.91, for a total transaction of $154,069,481.16.

CoreWeave Stock Performance

Shares of NASDAQ CRWV traded down $14.69 during mid-day trading on Friday, reaching $114.15. 48,299,949 shares of the company traded hands, compared to its average volume of 33,898,368. CoreWeave Inc. has a fifty-two week low of $50.18 and a fifty-two week high of $187.00. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a fifty day simple moving average of $94.19 and a 200-day simple moving average of $92.34.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 47.88%. The company had revenue of $1.57 billion for the quarter. The company's revenue for the quarter was up 110.4% on a year-over-year basis. Analysts anticipate that CoreWeave Inc. will post -4.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in CoreWeave by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 54,073 shares of the company's stock worth $4,189,000 after buying an additional 517 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in CoreWeave during the 1st quarter worth approximately $67,000. Cassaday & Co Wealth Management LLC purchased a new position in CoreWeave during the 1st quarter worth approximately $31,000. Amova Asset Management Americas Inc. grew its position in CoreWeave by 28.2% during the 1st quarter. Amova Asset Management Americas Inc. now owns 1,123,843 shares of the company's stock worth $86,997,000 after purchasing an additional 247,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in CoreWeave during the 1st quarter worth approximately $215,000.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave said bookings hit the strongest level in company history and backlog remains very large, reinforcing that demand for AI infrastructure is still extremely strong. CoreWeave Reports 'Strongest' Bookings
• Positive Sentiment: Analysts and commentators remain constructive on the long-term AI growth story, with some saying the pullback may create an attractive entry point despite near-term volatility. Seeking Alpha rating upgrade
• Neutral Sentiment: The company also highlighted product momentum, including expanded SUNK capabilities and SUNK Anywhere, which could support customer adoption over time. CoreWeave expands SUNK capabilities
• Neutral Sentiment: JPMorgan and Mizuho raised price targets but kept neutral ratings, suggesting Wall Street sees value but is still cautious on the stock’s near-term execution risk. Analyst target updates
• Negative Sentiment: CoreWeave reported a larger quarterly loss than expected as operating expenses climbed, fueling concerns that profitability remains distant even with rapid revenue growth. WSJ on widened Q1 loss
• Negative Sentiment: Second-quarter revenue guidance came in below consensus, and the company also lifted its capital spending outlook, creating concern about slower conversion of demand into revenue and continued heavy investment. CoreWeave forecast miss and higher capex
• Negative Sentiment: Recent insider and major shareholder selling, including sales by CEO Michael Intrator, Brian Venturo, Chen Goldberg, and Magnetar Financial, is adding short-term pressure on sentiment. CEO Form 4 filing

Wall Street Analyst Weigh In

CRWV has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of CoreWeave in a research note on Monday, January 12th. They set a "neutral" rating and a $86.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of CoreWeave from $120.00 to $160.00 and gave the company a "buy" rating in a research note on Monday. HC Wainwright reiterated a "buy" rating and set a $180.00 price objective on shares of CoreWeave in a research note on Monday, March 2nd. Roth Mkm restated a "buy" rating and issued a $150.00 price target on shares of CoreWeave in a research report on Friday. Finally, Truist Financial lifted their price target on shares of CoreWeave from $85.00 to $131.00 and gave the stock a "hold" rating in a research report on Friday. Twenty analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.09.

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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