CoreWeave (NASDAQ:CRWV) Stock Price Down 1.6% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) shares were down 1.6% on Monday after an insider sold shares in the company. The stock traded as low as $79.56 and last traded at $80.94. Approximately 15,747,953 shares changed hands during trading, a decline of 39% from the average daily volume of 25,787,215 shares. The stock had previously closed at $82.24.

Specifically, CEO Michael N. Intrator sold 244,017 shares of CoreWeave stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $78.77, for a total transaction of $19,221,219.09. Following the transaction, the chief executive officer owned 5,707,978 shares in the company, valued at approximately $449,617,427.06. The trade was a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $78.77, for a total transaction of $15,754,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,528,900 shares of the company’s stock, valued at $435,511,453. This represents a 3.49% 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 Brian M. Venturo sold 489,802 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $80.50, for a total transaction of $39,429,061.00. Following the sale, the insider directly owned 285,327 shares of the company’s stock, valued at $22,968,823.50. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRWV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research note on Monday, December 29th. Oppenheimer initiated coverage on shares of CoreWeave in a research report on Friday, March 6th. They set an “outperform” rating and a $140.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of CoreWeave in a research report on Monday, January 12th. They set a “neutral” rating and a $86.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of CoreWeave in a research note on Thursday, March 5th. They issued an “underperform” rating and a $56.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded CoreWeave from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $140.00 in a research report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, CoreWeave currently has an average rating of “Moderate Buy” and an average price target of $121.06.

CoreWeave Stock Performance

The company has a market capitalization of $33.92 billion and a PE ratio of -25.29. The firm has a 50-day moving average of $86.53 and a two-hundred day moving average of $95.76. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.46.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. CoreWeave’s revenue was up 110.4% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRWV. Family Legacy Financial Solutions LLC increased its holdings in CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of CoreWeave in the third quarter valued at about $27,000. OLD Second National Bank of Aurora purchased a new position in CoreWeave in the 3rd quarter valued at about $27,000. KERR FINANCIAL PLANNING Corp purchased a new stake in CoreWeave during the 3rd quarter worth approximately $27,000. Finally, Aspect Partners LLC purchased a new position in shares of CoreWeave in the third quarter valued at approximately $28,000.

About CoreWeave

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.