CoreWeave (NASDAQ:CRWV) Insider Sells $5,426,292.83 in Stock

by · The Markets Daily

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) insider Brannin Mcbee sold 56,707 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $95.69, for a total value of $5,426,292.83. Following the transaction, the insider owned 323,263 shares of the company’s stock, valued at approximately $30,933,036.47. This represents a 14.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.

Brannin Mcbee also recently made the following trade(s):

  • On Monday, June 29th, Brannin Mcbee sold 50,000 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total transaction of $4,716,000.00.
  • On Monday, June 29th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $94.32, for a total transaction of $13,582,080.00.
  • On Monday, June 29th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total transaction of $5,234,760.00.
  • On Monday, June 29th, Brannin Mcbee sold 500 shares of CoreWeave stock. The stock was sold at an average price of $94.32, for a total transaction of $47,160.00.
  • On Monday, June 22nd, Brannin Mcbee sold 25,000 shares of CoreWeave stock. The stock was sold at an average price of $111.28, for a total transaction of $2,782,000.00.
  • On Monday, June 22nd, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $111.28, for a total transaction of $16,024,320.00.
  • On Monday, June 22nd, Brannin Mcbee sold 28,000 shares of CoreWeave stock. The shares were sold at an average price of $111.28, for a total transaction of $3,115,840.00.
  • On Monday, June 22nd, Brannin Mcbee sold 52,500 shares of CoreWeave stock. The stock was sold at an average price of $111.28, for a total transaction of $5,842,200.00.
  • On Monday, June 22nd, Brannin Mcbee sold 500 shares of CoreWeave stock. The stock was sold at an average price of $111.27, for a total transaction of $55,635.00.
  • On Monday, June 15th, Brannin Mcbee sold 53,500 shares of CoreWeave stock. The stock was sold at an average price of $107.30, for a total transaction of $5,740,550.00.

CoreWeave Stock Performance

CoreWeave stock traded down $13.86 during trading hours on Wednesday, hitting $85.68. 60,583,205 shares of the stock traded hands, compared to its average volume of 27,870,250. CoreWeave Inc. has a one year low of $63.80 and a one year high of $166.22. The firm’s 50-day moving average price is $108.96 and its two-hundred day moving average price is $94.78. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31.

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

Hedge Funds Weigh In On CoreWeave

A number of large investors have recently bought and sold shares of CRWV. Sivia Capital Partners LLC acquired a new stake in CoreWeave during the 2nd quarter worth about $39,824,000. Quantbot Technologies LP acquired a new position in CoreWeave in the second quarter valued at approximately $311,000. Invesco Ltd. acquired a new position in shares of CoreWeave in the 2nd quarter valued at $882,000. First Trust Advisors LP acquired a new stake in CoreWeave during the second quarter valued at $20,260,000. Finally, Baird Financial Group Inc. acquired a new position in shares of CoreWeave in the second quarter worth about $455,000.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

Analysts Set New Price Targets

Several equities research analysts recently commented on CRWV shares. Rosenblatt Securities began coverage on shares of CoreWeave in a research note on Thursday, June 25th. They set a “buy” rating and a $250.00 price objective on the stock. Barclays boosted their target price on shares of CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Roth Mkm reissued a “buy” rating and set a $150.00 price target on shares of CoreWeave in a report on Friday, May 8th. Mizuho raised their price target on CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, CoreWeave presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

View Our Latest Stock Report on CRWV

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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