CoreWeave (NASDAQ:CRWV) Stock Falls 2.9% – What’s Next?

CoreWeave Inc. (NASDAQ:CRWV) was down 2.9% on Monday. The company traded as low as $83.53 and last traded at $85.07. Approximately 18,475,314 shares were traded during mid-day trading, a decline of 35% from the average session volume of 28,542,680 shares. The stock had previously closed at $87.59.

Analyst Ratings Changes

CRWV has been the topic of several research analyst reports. Btg Pactual set a $125.00 price objective on CoreWeave in a research note on Monday, September 21st. UBS Group began coverage on shares of CoreWeave in a research note on Tuesday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. Sanford C. Bernstein increased their target price on shares of CoreWeave from $67.00 to $74.00 and gave the stock an “underperform” rating in a report on Wednesday, August 12th. Raymond James Financial cut shares of CoreWeave from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Citigroup raised their price target on shares of CoreWeave from $142.00 to $159.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Twenty-two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, CoreWeave currently has an average rating of “Moderate Buy” and a consensus target price of $138.78.

CoreWeave Price Performance

The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of -23.31 and a beta of 7.45. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53. The business has a 50-day moving average price of $86.09 and a two-hundred day moving average price of $94.49.

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

Insider Buying and Selling

In related news, CEO Michael Intrator sold 200,000 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $86.82, for a total value of $17,364,000.00. Following the sale, the chief executive officer owned 687,129 shares of the company’s stock, valued at $59,656,539.78. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Nitin Agrawal sold 55,764 shares of CoreWeave stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $86.83, for a total transaction of $4,841,988.12. Following the completion of the sale, the chief financial officer owned 132,596 shares in the company, valued at approximately $11,513,310.68. This represents a 29.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,493,790 shares of company stock valued at $569,483,387. 24.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRWV. Essential Partners LLC bought a new stake in shares of CoreWeave during the second quarter valued at approximately $30,000. Burnham & Co LLC acquired a new position in shares of CoreWeave during the second quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC bought a new position in CoreWeave in the 1st quarter worth approximately $31,000. Allied Private Wealth LLC bought a new position in CoreWeave in the 2nd quarter worth approximately $40,000. Finally, Peterson Wealth Services grew its holdings in CoreWeave by 153.1% in the 1st quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after buying an additional 245 shares in the last quarter.

CoreWeave Company Profile

CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning, high-performance computing and other data-intensive workloads. The company provides access to accelerated computing resources, particularly graphics processing units (GPUs), through a cloud platform designed for large-scale training, inference, rendering and scientific computing.

Its offerings include on-demand and reserved GPU instances, cloud storage, high-speed networking, Kubernetes-based container orchestration and managed services for deploying and scaling workloads.