CoreWeave (NASDAQ:CRWV) Stock Price Down 3.3% After Analyst Downgrade

Shares of CoreWeave Inc. (NASDAQ:CRWV) fell 3.3% on Wednesday after Loop Capital lowered their price target on the stock from $165.00 to $120.00. Loop Capital currently has a buy rating on the stock. CoreWeave traded as low as $85.32 and last traded at $85.43. 40,045,334 shares traded hands during trading, an increase of 70% from the average session volume of 23,545,113 shares. The stock had previously closed at $88.39.

CRWV has been the topic of a number of other reports. Argus restated a “buy” rating and issued a $200.00 price target on shares of CoreWeave in a research note on Thursday, August 14th. Stifel Nicolaus set a $120.00 target price on shares of CoreWeave in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of CoreWeave in a research note on Wednesday. Bank of America decreased their price objective on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, HSBC initiated coverage on shares of CoreWeave in a report on Wednesday, July 16th. They issued a “reduce” rating and a $32.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.86.

Insider Transactions at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 7,688 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $134.94, for a total value of $1,037,418.72. Following the completion of the sale, the insider owned 299,512 shares in the company, valued at approximately $40,416,149.28. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian M. Venturo sold 29,916 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $127.94, for a total transaction of $3,827,453.04. Following the completion of the transaction, the insider directly owned 215,486 shares of the company’s stock, valued at approximately $27,569,278.84. The trade was a 12.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,743,427 shares of company stock worth $4,592,624,537 in the last three months.

Institutional Investors Weigh In On CoreWeave

Institutional investors and hedge funds have recently bought and sold shares of the business. Nvidia Corp boosted its position in shares of CoreWeave by 0.4% during the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock valued at $3,958,701,000 after purchasing an additional 95,113 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CoreWeave by 109.7% during the third quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after buying an additional 3,888,164 shares in the last quarter. Cisco Systems Inc. acquired a new position in CoreWeave in the second quarter worth approximately $173,493,000. Voya Investment Management LLC bought a new position in shares of CoreWeave in the third quarter valued at $110,562,000. Finally, Geode Capital Management LLC lifted its position in shares of CoreWeave by 142.6% during the 2nd quarter. Geode Capital Management LLC now owns 716,178 shares of the company’s stock valued at $116,809,000 after acquiring an additional 420,915 shares during the last quarter.

CoreWeave Price Performance

The company has a market cap of $41.74 billion and a price-to-earnings ratio of -74.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.79. The business has a 50-day moving average price of $123.33 and a 200 day moving average price of $118.83.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned ($1.82) earnings per share. The company’s revenue for the quarter was up 133.7% on a year-over-year basis. CoreWeave has set its FY 2025 guidance at EPS.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.