CoreWeave (NASDAQ:CRWV) Hits New 12-Month Low on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV)’s share price hit a new 52-week low during trading on Monday following insider selling activity. The stock traded as low as $50.78 and last traded at $50.7490, with a volume of 30,012,709 shares trading hands. The stock had previously closed at $54.87.

Specifically, insider Jeff Baker sold 6,670 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $61.16, for a total value of $407,937.20. Following the completion of the transaction, the insider directly owned 14,170 shares in the company, valued at $866,637.20. The trade was a 32.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analyst Weigh In

Several analysts recently commented on CRWV shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of CoreWeave in a research report on Thursday, October 1st. Btg Pactual set a $125.00 price objective on shares of CoreWeave in a report on Monday, September 21st. Rothschild & Co Redburn assumed coverage on shares of CoreWeave in a research report on Monday, September 21st. They issued a “sell” rating and a $54.00 price objective for the company. BTIG Research began coverage on CoreWeave in a research note on Wednesday, July 22nd. They issued a “buy” rating for the company. Finally, Roth Capital set a $145.00 price target on CoreWeave in a report on Thursday, August 13th. Twenty-seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.24.

CoreWeave Trading Down 8.2%

The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market capitalization of $23.12 billion, a PE ratio of -13.82 and a beta of 7.36. The company’s fifty day simple moving average is $79.45 and its 200-day simple moving average is $91.02.

CoreWeave (NASDAQ:CRWV) last released its earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business had revenue of $2.58 billion during the quarter. During the same period in the prior year, the firm earned ($0.27) EPS. The firm’s revenue for the quarter was up 112.5% on a year-over-year basis. As a group, sell-side analysts expect that CoreWeave Inc. will post -4.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently bought and sold shares of CRWV. Public Employees Retirement System of Ohio purchased a new stake in CoreWeave during the second quarter worth about $15,543,000. California State Teachers Retirement System grew its position in CoreWeave by 25.5% during the first quarter. California State Teachers Retirement System now owns 320,011 shares of the company’s stock worth $24,791,000 after buying an additional 64,960 shares during the period. Bank of New York Mellon Corp increased its holdings in CoreWeave by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company’s stock valued at $27,401,000 after buying an additional 39,599 shares in the last quarter. Ardmore Road Asset Management LP increased its holdings in CoreWeave by 3,410.0% in the first quarter. Ardmore Road Asset Management LP now owns 351,000 shares of the company’s stock valued at $27,192,000 after buying an additional 341,000 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of CoreWeave by 30.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 73,470 shares of the company’s stock valued at $7,313,000 after acquiring an additional 17,196 shares during the period.

CoreWeave Company Profile

CoreWeave, Inc is a specialized cloud computing company that provides infrastructure designed for artificial intelligence (AI), machine learning, and other high-performance computing workloads. Its platform gives customers access to accelerated computing resources, including graphics processing units (GPUs), along with the networking, storage, and software tools needed to develop, train, and deploy demanding applications.

The company offers cloud services for AI model training and inference, visual effects and rendering, scientific computing, and other data-intensive workloads.