CoreWeave (NASDAQ:CRWV) Shares Down 5.4% on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) dropped 5.4% on Tuesday following insider selling activity. The stock traded as low as $78.70 and last traded at $80.26. Approximately 22,063,613 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 24,929,279 shares. The stock had previously closed at $84.83.

Specifically, insider Brannin Mcbee sold 63,835 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $85.30, for a total value of $5,445,125.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brannin Mcbee sold 102,835 shares of CoreWeave stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $85.30, for a total value of $8,771,825.50. Following the sale, the insider directly owned 185,181 shares in the company, valued at approximately $15,795,939.30. This trade represents a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Michael N. Intrator sold 50,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $65.47, for a total value of $3,273,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several analysts have weighed in on CRWV shares. Stifel Nicolaus set a $120.00 target price on CoreWeave in a research note on Tuesday, November 11th. HC Wainwright restated a “buy” rating and set a $180.00 price objective on shares of CoreWeave in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a report on Monday. Bank of America decreased their target price on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, Roth Capital began coverage on shares of CoreWeave in a research report on Thursday, December 4th. They set a “buy” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, CoreWeave presently has a consensus rating of “Hold” and an average target price of $127.70.

CoreWeave Stock Performance

The company’s 50-day moving average price is $95.15 and its two-hundred day moving average price is $116.85. The company has a market cap of $30.48 billion and a P/E ratio of -54.39. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. CoreWeave’s quarterly revenue was up 133.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.82) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Costello Asset Management INC grew its position in CoreWeave by 33.3% during the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company’s stock worth $65,000 after purchasing an additional 100 shares in the last quarter. Chilton Capital Management LLC boosted its position in shares of CoreWeave by 50.2% in the third quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after buying an additional 121 shares during the period. Family Legacy Financial Solutions LLC boosted its position in shares of CoreWeave by 166.7% in the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the period. CoreCap Advisors LLC grew its holdings in shares of CoreWeave by 29.6% during the third quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after buying an additional 147 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its position in CoreWeave by 36.0% during the third quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after buying an additional 180 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.