Insider Selling: CoreWeave (NASDAQ:CRWV) Insider Sells 281,250 Shares of Stock

CoreWeave Inc. (NASDAQ:CRWV) insider Brian Venturo sold 281,250 shares of CoreWeave stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $87.75, for a total transaction of $24,679,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CoreWeave Stock Performance

Shares of NASDAQ:CRWV traded down $8.79 during trading on Friday, hitting $78.59. 35,054,010 shares of the company were exchanged, compared to its average volume of 24,413,855. The company has a market cap of $30.37 billion and a PE ratio of -54.20. The stock has a 50 day moving average of $106.23 and a 200 day moving average of $120.12. CoreWeave Inc. has a 52-week low of $33.51 and a 52-week high of $187.00. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm posted ($1.82) earnings per share. CoreWeave’s revenue for the quarter was up 133.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRWV. Apexium Financial LP bought a new position in CoreWeave in the 2nd quarter valued at $1,044,000. Chung Wu Investment Group LLC purchased a new position in CoreWeave during the 2nd quarter worth $755,000. Cisco Systems Inc. bought a new stake in CoreWeave during the 2nd quarter valued at $173,493,000. Gamco Investors INC. ET AL purchased a new stake in shares of CoreWeave in the 1st quarter worth $318,000. Finally, Rockline Wealth Management LLC purchased a new stake in shares of CoreWeave in the 2nd quarter worth $951,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRWV. Argus reiterated a “buy” rating and set a $200.00 price target on shares of CoreWeave in a research report on Thursday, August 14th. Morgan Stanley boosted their price objective on shares of CoreWeave from $91.00 to $99.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Wells Fargo & Company decreased their target price on shares of CoreWeave from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Melius Research set a $140.00 target price on shares of CoreWeave in a research note on Tuesday, November 11th. Finally, Evercore ISI reduced their target price on CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $129.47.

CoreWeave Company Profile

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.