CoreWeave (NASDAQ:CRWV) Stock Price Down 2.6% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWVGet Free Report)’s stock price dropped 2.6% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $78.78 and last traded at $80.66. Approximately 19,405,641 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 26,398,674 shares. The stock had previously closed at $82.82.

Specifically, insider Brannin Mcbee sold 43,750 shares of CoreWeave stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $84.44, for a total transaction of $3,694,250.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brannin Mcbee sold 100,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $84.44, for a total value of $8,444,000.00. Following the sale, the insider owned 248,664 shares in the company, valued at approximately $20,997,188.16. This trade represents a 28.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, insider Brannin Mcbee sold 22,915 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $84.44, for a total value of $1,934,942.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

CRWV has been the topic of several recent research reports. Barclays cut their target price on shares of CoreWeave from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, January 12th. Sanford C. Bernstein started coverage on shares of CoreWeave in a research report on Thursday, March 5th. They issued an “underperform” rating and a $56.00 price target for the company. Macquarie Infrastructure reiterated a “neutral” rating and set a $115.00 price target on shares of CoreWeave in a report on Tuesday, January 27th. Roth Mkm reissued a “buy” rating on shares of CoreWeave in a research note on Monday, February 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $180.00 price objective on shares of CoreWeave in a report on Monday, March 2nd. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, CoreWeave has an average rating of “Moderate Buy” and an average target price of $122.35.

Read Our Latest Report on CoreWeave

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

CoreWeave Stock Performance

The company’s 50-day moving average price is $89.27 and its two-hundred day moving average price is $97.88. The company has a market capitalization of $33.80 billion and a price-to-earnings ratio of -25.21. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46.

CoreWeave (NASDAQ:CRWVGet Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The company’s revenue for the quarter was up 110.4% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after purchasing an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Deutsche Bank AG lifted its stake in CoreWeave by 22,624.0% in the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after buying an additional 3,796,077 shares during the period. Altimeter Capital Management LP acquired a new position in CoreWeave in the fourth quarter valued at approximately $230,099,000. Finally, Alyeska Investment Group L.P. boosted its holdings 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 buying an additional 3,000,000 shares in the last quarter.

CoreWeave Company Profile

(Get Free Report)

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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