CoreWeave (NASDAQ:CRWV) Shares Down 2.2% After Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s stock price traded down 2.2% during mid-day trading on Friday following insider selling activity. The company traded as low as $93.50 and last traded at $96.58. Approximately 47,510,531 shares traded hands during trading, an increase of 66% from the average daily volume of 28,580,314 shares. The stock had previously closed at $98.76.

Specifically, CEO Michael N. Intrator sold 107,692 shares of CoreWeave stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $106.81, for a total value of $11,502,582.52. Following the completion of the transaction, the chief executive officer directly owned 3,474,020 shares of the company’s stock, valued at approximately $371,060,076.20. The trade was a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $106.81, for a total transaction of $21,362,000.00. Following the sale, the chief executive officer owned 3,276,815 shares in the company, valued at approximately $349,996,610.15. This trade represents a 5.75% decrease in their position. 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 CoreWeave news, insider Brannin Mcbee sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $111.28, for a total value of $2,782,000.00. Following the transaction, the insider owned 402,852 shares of the company’s stock, valued at $44,829,370.56. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citizens Jmp reaffirmed a “market outperform” rating and set a $180.00 target price on shares of CoreWeave in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. BNP Paribas Exane assumed coverage on shares of CoreWeave in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price target on the stock. Truist Financial increased their price target on CoreWeave from $85.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Oppenheimer boosted their price objective on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $250 price target, signaling significant upside potential and reinforcing bullish sentiment around CoreWeave’s AI infrastructure role.
• Positive Sentiment: Cantor Fitzgerald reiterated an Overweight rating and $167 price target after reviewing details in CoreWeave’s bond offering memo, with analysts viewing the company as a key beneficiary of the upcoming AI chip cycle.
• Positive Sentiment: CoreWeave announced a partnership with Conapto to expand AI cloud capacity in Sweden, a development that supports international growth and capacity expansion. CoreWeave and Conapto partner to expand AI cloud capacity in Sweden
• Neutral Sentiment: CoreWeave was highlighted in a list of stocks that could potentially double over the next two years, which reflects bullish long-term sentiment but is more of a promotional market view than a direct business update. Here is why CoreWeave, Inc. (CRWV) is among the 10 Stocks That Could Double Over the Next 2 Years
• Neutral Sentiment: Multiple insider sales were disclosed, including CEO Michael Intrator and insider Brannin McBee, but the trades were made under pre-arranged 10b5-1 plans, which often makes them less alarming to investors than discretionary selling.
• Negative Sentiment: The insider selling may still pressure sentiment near term, especially given the size of some recent transactions and the fact that the stock has already been volatile.

CoreWeave Stock Performance

The firm’s fifty day simple moving average is $110.86 and its 200 day simple moving average is $94.60. The company has a market capitalization of $43.23 billion, a price-to-earnings ratio of -31.05 and a beta of 7.14. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) 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 net margin of 25.57% and a negative return on equity of 43.07%. CoreWeave’s revenue for the quarter was up 111.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) EPS. On average, sell-side analysts forecast that CoreWeave Inc. will post -4.83 EPS for the current year.

Institutional Investors Weigh In On CoreWeave

Several hedge funds have recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its position in CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of CoreWeave in the third quarter worth approximately $27,000. Cullen Frost Bankers Inc. lifted its position in shares of CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of CoreWeave during the fourth quarter worth approximately $28,000. Finally, Peterson Wealth Services boosted its holdings in shares of CoreWeave by 153.1% during the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after purchasing an additional 245 shares during the period.

CoreWeave Company Profile

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.