CoreWeave (NASDAQ:CRWV) Stock Price Down 2.5% Following Insider Selling

Key Points

• CoreWeave shares fell 2.5% to $87.39 after CEO Michael Intrator and two other insiders sold shares totaling roughly $17.6 million. The sales were disclosed as covering tax-withholding obligations related to vested equity awards.
• Wall Street’s view remains generally positive, with a consensus “Moderate Buy” rating from 35 analysts and an average price target of $138.78, though ratings range from “Sell” to “Outperform.”
• CoreWeave reported 112.5% year-over-year revenue growth to $2.58 billion and better-than-expected quarterly EPS, but remained unprofitable with a negative net margin and analysts expecting a full-year loss.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares fell 2.5% on Monday following insider selling activity. The stock traded as low as $87.09 and last traded at $87.39. 17,908,735 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 28,387,926 shares. The stock had previously closed at $89.62.

Specifically, CEO Michael N. Intrator sold 78,552 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $87.69, for a total value of $6,888,224.88. Following the completion of the sale, the chief executive officer directly owned 548,935 shares of the company's stock, valued at $48,136,110.15. This trade represents a 12.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 56,531 shares of the business's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $87.69, for a total value of $4,957,203.39. Following the completion of the sale, the insider owned 392,279 shares in the company, valued at approximately $34,398,945.51. The trade was a 12.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In related news, insider Brian Venturo sold 65,616 shares of CoreWeave stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $87.69, for a total value of $5,753,867.04. Following the completion of the sale, the insider owned 302,526 shares of the company's stock, valued at approximately $26,528,504.94. This trade represents a 17.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein upped their price objective on shares of CoreWeave from $67.00 to $74.00 and gave the company an "underperform" rating in a report on Wednesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $176.00 target price on shares of CoreWeave in a research note on Monday, September 28th. Wells Fargo & Company boosted their price target on shares of CoreWeave from $155.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of CoreWeave in a research note on Monday, September 21st. Finally, William Blair started coverage on shares of CoreWeave in a report on Wednesday, September 30th. They set an "outperform" rating on the stock. Twenty-three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $138.78.

CoreWeave Trading Down 2.5%

The firm's 50 day moving average is $87.05 and its 200 day moving average is $94.72. 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 cap of $40.10 billion, a PE ratio of -23.94 and a beta of 7.36.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.38. The firm had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The firm's revenue for the quarter was up 112.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.27) earnings per share. On average, equities analysts anticipate that CoreWeave Inc. will post -5.19 earnings per share for the current year.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of CoreWeave during the 2nd quarter valued at $15,543,000. California State Teachers Retirement System grew its position in CoreWeave by 25.5% during the first quarter. California State Teachers Retirement System now owns 320,011 shares of the company's stock valued at $24,791,000 after acquiring an additional 64,960 shares during the last quarter. Bank of New York Mellon Corp grew its position in CoreWeave by 12.6% during the first quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company's stock valued at $27,401,000 after acquiring an additional 39,599 shares during the last quarter. Ardmore Road Asset Management LP raised its stake in shares of CoreWeave by 3,410.0% during the first 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 in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of CoreWeave by 30.6% during the second quarter. TD Waterhouse Canada Inc. now owns 73,470 shares of the company's stock worth $7,313,000 after acquiring an additional 17,196 shares in the last quarter.

CoreWeave Company Profile

CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning and other data-intensive workloads. The company offers access to accelerated computing resources, including graphics processing units (GPUs), alongside central processing units, high-performance storage, networking and data center capacity.

Its platform supports AI model training, fine-tuning and inference, as well as visual effects, rendering, scientific computing and other demanding applications.

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