CoreWeave (NASDAQ:CRWV) Insider Sells 65,493 Shares of Stock

by · The Markets Daily

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) insider Brian Venturo sold 65,493 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $95.69, for a total transaction of $6,267,025.17. Following the completion of the transaction, the insider owned 235,883 shares in the company, valued at $22,571,644.27. This trade represents a 21.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

CoreWeave Trading Down 4.6%

Shares of CRWV traded down $3.93 during trading hours on Thursday, hitting $81.75. 32,560,914 shares of the stock were exchanged, compared to its average volume of 29,589,840. CoreWeave Inc. has a fifty-two week low of $63.80 and a fifty-two week high of $166.22. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $108.29 and a 200-day moving average of $94.80. The firm has a market capitalization of $36.59 billion, a P/E ratio of -26.29 and a beta of 7.17.

CoreWeave (NASDAQ:CRWVGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The firm had revenue of $2.08 billion for the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm’s revenue was up 111.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.60) earnings per share. On average, research analysts expect that CoreWeave Inc. will post -4.57 EPS for the current year.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

Analyst Ratings Changes

Several equities research analysts recently commented on CRWV shares. Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Citigroup boosted their price target on CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wolfe Research started coverage on CoreWeave in a report on Thursday, April 16th. They set an “outperform” rating and a $150.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $167.00 price objective on shares of CoreWeave in a research report on Thursday, June 11th. Finally, Wells Fargo & Company lifted their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Twenty-one equities research 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. According to MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Get Our Latest Stock Analysis on CRWV

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave in the 3rd quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new position in CoreWeave in the 3rd quarter valued at about $34,000. Cornerstone Planning Group LLC boosted its stake in CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Finally, Greenline Wealth Management LLC bought a new stake in CoreWeave during the 4th quarter worth approximately $28,000.

About CoreWeave

(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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