CoreWeave (NASDAQ:CRWV) CEO Michael Intrator Sells 200,000 Shares

CoreWeave Inc. (NASDAQ:CRWV) CEO Michael Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.66, for a total value of $16,332,000.00. Following the completion of the transaction, the chief executive officer owned 1,287,129 shares in the company, valued at approximately $105,106,954.14. The trade was a 13.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CoreWeave Trading Up 4.5%

CoreWeave stock traded up $3.63 during mid-day trading on Thursday, reaching $84.56. The stock had a trading volume of 18,736,433 shares, compared to its average volume of 27,028,080. CoreWeave Inc. has a fifty-two week low of $60.55 and a fifty-two week high of $153.20. The stock’s 50-day simple moving average is $85.47 and its 200-day simple moving average is $94.43. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.The company had revenue of $2.58 billion for the quarter. During the same period in the previous year, the company earned ($0.27) earnings per share. CoreWeave’s revenue for the quarter was up 112.5% compared to the same quarter last year. Equities research analysts forecast that CoreWeave Inc. will post -5.19 EPS for the current year.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently bought and sold shares of CRWV. California State Teachers Retirement System grew its stake in shares of CoreWeave by 12,886.8% in the 2nd quarter. California State Teachers Retirement System now owns 41,559,344 shares of the company’s stock worth $4,136,817,000 after acquiring an additional 41,239,333 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of CoreWeave by 446,194.0% during the third 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 in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of CoreWeave by 55.7% during the second quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock valued at $1,084,117,000 after purchasing an additional 3,897,741 shares in the last quarter. Bank of America Corp DE boosted its holdings in CoreWeave by 13.1% during the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock worth $437,870,000 after purchasing an additional 653,398 shares during the last quarter. Finally, Clear Street Group Inc. boosted its holdings in CoreWeave by 57.2% during the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock worth $333,260,000 after purchasing an additional 1,692,916 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRWV. Barclays upped their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Mizuho boosted their target price on shares of CoreWeave from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Jefferies Financial Group lowered shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Robert W. Baird raised their price target on shares of CoreWeave from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company raised 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. Twenty-one research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.90.

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.