CoreWeave (NASDAQ:CRWV) Stock Price Down 1.4% Following Insider Selling

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) dropped 1.4% during trading on Thursday following insider selling activity. The stock traded as low as $86.51 and last traded at $86.80. 19,013,020 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 28,536,303 shares. The stock had previously closed at $88.01.

Specifically, insider Brannin Mcbee sold 105,500 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $85.51, for a total transaction of $9,021,305.00. Following the completion of the sale, the insider directly owned 471,691 shares in the company, valued at $40,334,297.41. This represents a 18.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 144,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $85.51, for a total value of $12,313,440.00. Following the completion of the sale, the insider directly owned 327,691 shares in the company, valued at $28,020,857.41. This trade represents a 30.53% 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. In other news, insider Brannin Mcbee sold 500 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $85.51, for a total transaction of $42,755.00. Following the completion of the transaction, the insider owned 48,000 shares of the company’s stock, valued at approximately $4,104,480. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

CRWV has been the topic of several research analyst reports. Truist Financial upped their target price on CoreWeave from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group downgraded shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Citigroup increased their target price on shares of CoreWeave from $142.00 to $159.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Roth Capital set a $145.00 price objective on shares of CoreWeave in a report on Thursday, August 13th. Finally, Mizuho raised their target price on CoreWeave from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Twenty-one analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.90.

View Our Latest Stock Report on CRWV

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

CoreWeave Trading Down 1.4%

The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a 50-day moving average of $88.46 and a 200-day moving average of $94.89. The firm has a market capitalization of $39.83 billion, a P/E ratio of -23.78 and a beta of 7.44.

CoreWeave (NASDAQ:CRWVGet Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The company had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The company’s quarterly revenue was up 112.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.27) earnings per share. On average, equities research analysts anticipate that CoreWeave Inc. will post -5.19 EPS for the current fiscal year.

Institutional Trading of CoreWeave

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC bought a new stake in shares of CoreWeave during the 2nd quarter valued at about $39,824,000. Quantbot Technologies LP bought a new position in CoreWeave in the second quarter worth about $311,000. Invesco Ltd. purchased a new stake in CoreWeave in the second quarter worth about $882,000. First Trust Advisors LP bought a new stake in CoreWeave during the 2nd quarter valued at approximately $20,260,000. Finally, Baird Financial Group Inc. bought a new stake in CoreWeave during the 2nd quarter valued at approximately $455,000.

CoreWeave Company Profile

(Get Free Report)

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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