CoreWeave (NASDAQ:CRWV) Shares Down 3.6% – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV) fell 3.6% during mid-day trading on Tuesday . The stock traded as low as $80.37 and last traded at $81.85. Approximately 15,577,249 shares were traded during trading, a decline of 45% from the average session volume of 28,306,549 shares. The stock had previously closed at $84.89.

Wall Street Analyst Weigh In

CRWV has been the topic of a number of research analyst reports. Wolfe Research reissued an “outperform” rating on shares of CoreWeave in a research report on Monday, July 6th. Piper Sandler reiterated an “overweight” rating and issued a $153.00 price target (up from $151.00) on shares of CoreWeave in a report on Wednesday, August 12th. Sanford C. Bernstein boosted their price objective on CoreWeave from $67.00 to $74.00 and gave the company an “underperform” rating in a report on Wednesday, August 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of CoreWeave in a research report on Wednesday, August 12th. Finally, TD Cowen raised shares of CoreWeave to a “buy” rating in a research report on Wednesday, July 22nd. Twenty-one research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.90.

CoreWeave Stock Up 4.1%

The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53. The stock’s 50-day moving average price is $85.75 and its two-hundred day moving average price is $94.51. The stock has a market capitalization of $38.66 billion, a P/E ratio of -23.08 and a beta of 7.45.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.52) by $0.38. The firm 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%. CoreWeave’s revenue for the quarter was up 112.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS. As a group, research analysts expect that CoreWeave Inc. will post -5.19 earnings per share for the current fiscal year.

Insider Transactions at CoreWeave

In other news, CEO Michael N. Intrator sold 278,560 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $97.43, for a total value of $27,140,100.80. Following the sale, the chief executive officer directly owned 3,138,612 shares of the company’s stock, valued at approximately $305,794,967.16. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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. Also, major shareholder Magnetar Financial Llc sold 307,131 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $108.75, for a total transaction of $33,400,496.25. Following the sale, the insider directly owned 220,810 shares in the company, valued at $24,013,087.50. This trade represents a 58.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,146,467 shares of company stock valued at $667,792,935 in the last ninety days. Insiders own 24.20% of the company’s stock.

Hedge Funds Weigh In On CoreWeave

A number of institutional investors have recently added to or reduced their stakes in CRWV. Pin Oak Investment Advisors Inc. bought a new position in shares of CoreWeave in the 3rd quarter worth $34,000. Essential Partners LLC purchased a new stake in shares of CoreWeave in the 2nd quarter valued at $30,000. Burnham & Co LLC purchased a new stake in shares of CoreWeave in the 2nd quarter valued at $32,000. Cullen Frost Bankers Inc. grew its holdings in shares of 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 purchased a new position in CoreWeave in the 4th quarter worth $28,000.

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.