CoreWeave (NASDAQ:CRWV) CFO Nitin Agrawal Sells 38,456 Shares of Stock

CoreWeave Inc. (NASDAQ:CRWV) CFO Nitin Agrawal sold 38,456 shares of CoreWeave stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $83.23, for a total transaction of $3,200,692.88. Following the completion of the transaction, the chief financial officer directly owned 189,892 shares in the company, valued at approximately $15,804,711.16. The trade was a 16.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nitin Agrawal also recently made the following trade(s):

• On Wednesday, March 11th, Nitin Agrawal sold 63,157 shares of CoreWeave stock. The stock was sold at an average price of $79.68, for a total value of $5,032,349.76.
• On Tuesday, March 3rd, Nitin Agrawal sold 3,920 shares of CoreWeave stock. The shares were sold at an average price of $73.20, for a total transaction of $286,944.00.
• On Friday, February 20th, Nitin Agrawal sold 5,383 shares of CoreWeave stock. The stock was sold at an average price of $90.84, for a total transaction of $488,991.72.

CoreWeave Price Performance

Shares of NASDAQ CRWV opened at $80.66 on Friday. CoreWeave Inc. has a 52 week low of $33.51 and a 52 week high of $187.00. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.46. The firm has a market cap of $33.80 billion and a P/E ratio of -25.21. The business’s 50 day moving average price is $89.34 and its 200 day moving average price is $97.76.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The company had revenue of $1.57 billion for the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. CoreWeave’s revenue was up 110.4% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRWV. Needham & Company LLC reiterated a “hold” rating on shares of CoreWeave in a research report on Friday, February 27th. Sanford C. Bernstein assumed coverage on shares of CoreWeave in a research report on Thursday, March 5th. They set an “underperform” rating and a $56.00 price target on the stock. Citigroup dropped their price objective on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. UBS Group reiterated a “neutral” rating on shares of CoreWeave in a report on Friday, January 16th. Finally, Truist Financial raised their target price on shares of CoreWeave from $84.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of CoreWeave by 446,194.0% in 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 last quarter. Deutsche Bank AG raised its holdings in shares of CoreWeave by 22,624.0% in 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 in the last quarter. Altimeter Capital Management LP acquired a new stake in shares of CoreWeave in the 4th quarter valued at $230,099,000. Finally, Alyeska Investment Group L.P. lifted its position in shares of CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.

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.