CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) was down 8.6% on Monday following insider selling activity. The stock traded as low as $49.46 and last traded at $50.15. 47,673,639 shares changed hands during trading, an increase of 51% from the average session volume of 31,581,402 shares. The stock had previously closed at $54.87.
Specifically, insider Jeff Baker sold 6,670 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $61.16, for a total transaction of $407,937.20. Following the sale, the insider owned 14,170 shares of the company’s stock, valued at approximately $866,637.20. This represents a 32.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Analysts Set New Price Targets
A number of analysts have weighed in on CRWV shares. BTIG Research started coverage on CoreWeave in a report on Wednesday, July 22nd. They set a “buy” rating for the company. JPMorgan Chase & Co. raised CoreWeave from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $125.00 in a research note on Thursday, September 24th. Roth Capital set a $145.00 target price on CoreWeave in a research report on Thursday, August 13th. Barclays raised their target price on CoreWeave from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley lowered their target price on CoreWeave from $99.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, October 23rd. Twenty-seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, CoreWeave presently has a consensus rating of “Moderate Buy” and an average target price of $130.24.
Read Our Latest Research Report on CoreWeave
Key Headlines Impacting CoreWeave
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: CoreWeave expanded its partnership with CrowdStrike to support AI integration, potentially strengthening demand for its cloud infrastructure and adding credibility to its enterprise AI strategy. CrowdStrike And CoreWeave Expand Partnership For AI Integration
- Positive Sentiment: A bullish CNBC analysis argues that the market may be overly pessimistic and that CoreWeave could potentially triple if AI infrastructure demand and execution remain strong. The view is speculative but may support long-term investor interest. Investors are giving up on CoreWeave. I see a potential triple
- Positive Sentiment: Zacks included CRWV among internet stocks it expects could exceed earnings estimates this season, providing a potential near-term catalyst if CoreWeave delivers better-than-expected results. 4 Internet Stocks Poised to Top Estimates This Earnings Season
- Neutral Sentiment: CoreWeave briefly advanced alongside optimism around AI infrastructure, even as Oracle’s new bond offering renewed debate about the sector’s capital requirements and debt funding. Oracle Declines 4% as $10 Billion Bond Sale Revives AI Debt Worries
- Negative Sentiment: Shares have decreased as investors question whether AI data-center companies can secure enough financing to fund planned capacity, with similar concerns weighing on Applied Digital and Nebius. Applied Digital Slumps 8% as CEO Says 800 MW Still Needs Financing
- Negative Sentiment: Reports warn that CRWV could approach record lows as AI funding dries up, increasing concern over its heavily leveraged growth model and ability to finance expansion. CoreWeave stock is at risk of hitting record lows as AI funding starts drying
- Negative Sentiment: The bond market is signaling elevated credit risk at CoreWeave, making borrowing costs and refinancing conditions important risks for a company with substantial debt and continued capital needs. Bond market signals distress about CoreWeave
- Negative Sentiment: Insider Jeff Baker sold 6,670 shares, a transaction that may add to short-term investor caution, although one insider sale does not establish a broader change in management’s outlook. CoreWeave Stock: Insider Jeff Baker Sells 6,670 Shares
CoreWeave Trading Down 8.6%
The business has a 50 day moving average of $79.45 and a two-hundred day moving average of $91.02. The firm has a market capitalization of $23.01 billion, a price-to-earnings ratio of -13.74 and a beta of 7.36. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46.
CoreWeave (NASDAQ:CRWV – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%. The firm had revenue of $2.58 billion during the quarter. During the same period last year, the business posted ($0.27) EPS. The company’s revenue was up 112.5% on a year-over-year basis. Equities analysts predict that CoreWeave Inc. will post -4.97 EPS for the current year.
Hedge Funds Weigh In On CoreWeave
A number of institutional investors have recently modified their holdings of CRWV. MassMutual Private Wealth & Trust FSB grew its position in CoreWeave by 241.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 307 shares of the company’s stock valued at $27,000 after purchasing an additional 217 shares during the period. Essential Partners LLC acquired a new position in CoreWeave during the second quarter worth $30,000. Peterson Wealth Services lifted its stake in shares of CoreWeave by 153.1% in the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock valued at $31,000 after buying an additional 245 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of CoreWeave in the first quarter valued at $31,000. Finally, Burnham & Co LLC bought a new position in shares of CoreWeave in the second quarter valued at $32,000.
CoreWeave Company Profile
CoreWeave, Inc is a specialized cloud computing company that provides infrastructure designed for artificial intelligence (AI), machine learning, and other high-performance computing workloads. Its platform gives customers access to accelerated computing resources, including graphics processing units (GPUs), along with the networking, storage, and software tools needed to develop, train, and deploy demanding applications.
The company offers cloud services for AI model training and inference, visual effects and rendering, scientific computing, and other data-intensive workloads.
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