CoreWeave (NASDAQ:CRWV) Trading Down 11.4% – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price fell 11.4% during mid-day trading on Friday . The company traded as low as $71.67 and last traded at $71.88. Approximately 25,202,460 shares were traded during trading, a decline of 11% from the average daily volume of 28,165,799 shares. The stock had previously closed at $81.10.

Analyst Ratings Changes

CRWV has been the topic of several research analyst reports. Roth Capital restated a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Jefferies Financial Group cut shares of CoreWeave from a “buy” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of CoreWeave in a research note on Thursday, July 2nd. Citigroup lowered shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Oppenheimer increased their price objective on shares of CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.25.

CoreWeave Price Performance

The company has a 50 day moving average of $97.75 and a 200 day moving average of $95.47. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $32.17 billion, a price-to-earnings ratio of -23.11 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. CoreWeave’s quarterly revenue was up 111.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) earnings per share. As a group, equities research analysts anticipate that CoreWeave Inc. will post -4.57 EPS for the current year.

Insider Activity at CoreWeave

In other CoreWeave news, CEO Michael N. Intrator sold 61,797 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total value of $5,372,631.18. Following the sale, the chief executive officer directly owned 2,876,815 shares of the company’s stock, valued at approximately $250,110,296.10. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,912 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total transaction of $6,690,574.88. Following the completion of the sale, the insider owned 283,985 shares in the company, valued at $24,703,855.15. The trade was a 21.31% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,070,099 shares of company stock valued at $1,982,943,238 over the last 90 days. 24.20% of the stock is owned by corporate insiders.

Institutional Trading of CoreWeave

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new position in shares of CoreWeave during the 3rd quarter worth about $34,000. Cornerstone Planning Group LLC raised its position in shares of CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 121 shares in the last quarter. Greenline Wealth Management LLC purchased a new stake in CoreWeave during the fourth quarter worth approximately $28,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in CoreWeave during the first quarter worth approximately $31,000.

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.