CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Down 8.2% – Here’s Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) traded down 8.2% during trading on Thursday . The stock traded as low as $142.58 and last traded at $149.70. 20,948,103 shares were traded during mid-day trading, an increase of 0% from the average session volume of 20,882,709 shares. The stock had previously closed at $163.10.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America raised their price objective on shares of CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Moffett Nathanson began coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Monday, May 5th. They set a “neutral” rating and a $43.00 target price for the company. Citigroup raised their target price on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Arete began coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Thursday. They set a “neutral” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.00.

CoreWeave, Inc. Class A Common Stock Trading Up 3.8%

The firm has a fifty day moving average price of $69.24.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.67).

Insider Activity at CoreWeave, Inc. Class A Common Stock

In related news, CFO Nitin Agrawal sold 12,720 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the sale, the chief financial officer now directly owns 231,811 shares in the company, valued at approximately $9,272,440. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new stake in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,575 shares of the company’s stock, valued at approximately $318,000.

About CoreWeave, Inc. Class A Common Stock

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.