CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) shares dropped 4.8% on Tuesday . The company traded as low as $101.96 and last traded at $106.00. 25,020,696 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 28,541,010 shares. The stock had previously closed at $111.29.
CoreWeave News Summary
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: Rosenblatt Securities initiated coverage on CoreWeave with a buy rating and a $250 price target, signaling significant upside potential and reinforcing the bullish case for the AI cloud provider. Benzinga
- Positive Sentiment: CoreWeave announced a new partnership with Conapto to expand AI cloud capacity in Stockholm, Sweden, with renewable-energy-powered data center campuses already coming online. The expansion supports international growth and rising AI infrastructure demand. Business Wire
- Positive Sentiment: Several market commentary pieces highlighted CoreWeave as a favored AI infrastructure name, pointing to its strong backlog and NVIDIA-related growth story, which can support investor optimism around long-term demand. Yahoo Finance
- Neutral Sentiment: CoreWeave was mentioned in analyst roundup coverage and AI stock watchlists, keeping the name in front of traders but without a direct new operational update beyond the bullish research call. 247WallSt
- Negative Sentiment: Insider filings showed Brannin McBee sold multiple blocks of CoreWeave shares under a pre-arranged trading plan. While these were not necessarily bearish on their own, heavy insider selling can still weigh on sentiment. SEC Filing
Analyst Ratings Changes
A number of brokerages recently commented on CRWV. Jefferies Financial Group boosted their price objective on shares of CoreWeave from $120.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Mizuho increased their target price on shares of CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Citigroup boosted their price target on shares of CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $167.00 price target on shares of CoreWeave in a research note on Thursday, June 11th. Finally, Wells Fargo & Company increased their price objective on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.00.
CoreWeave Stock Performance
The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock has a market cap of $44.17 billion, a P/E ratio of -31.73 and a beta of 7.14. The firm’s 50-day moving average is $111.23 and its two-hundred day moving average is $94.53.
CoreWeave (NASDAQ:CRWV – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The business had revenue of $2.08 billion during the quarter. During the same period last year, the company earned ($0.60) earnings per share. The firm’s quarterly revenue was up 111.6% on a year-over-year basis. As a group, research analysts expect that CoreWeave Inc. will post -4.57 EPS for the current year.
Insider Activity
In related news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the sale, the insider directly owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This represents a 83.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the completion of the transaction, the insider owned 285,327 shares in the company, valued at $23,071,541.22. The trade was a 79.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,072,618 shares of company stock valued at $3,184,454,369 over the last 90 days.
Institutional Trading of CoreWeave
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWV. Vanguard Group Inc. boosted its position in shares of CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares during the period. Proficio Capital Partners LLC raised its stake in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after purchasing an additional 17,847,760 shares during the last quarter. Bank of America Corp DE boosted its holdings in CoreWeave by 13.1% in the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after purchasing an additional 653,398 shares during the period. Clear Street Group Inc. boosted its holdings in CoreWeave by 57.2% in the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after purchasing an additional 1,692,916 shares during the period. Finally, Alyeska Investment Group L.P. grew its position in CoreWeave by 300.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.
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.
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