Nitin Agrawal Sells 36,317 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWV) CFO Nitin Agrawal sold 36,317 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $69.18, for a total value of $2,512,410.06. Following the sale, the chief financial officer directly owned 167,075 shares in the company, valued at $11,558,248.50. This trade represents a 17.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Nitin Agrawal also recently made the following trade(s):

• On Thursday, December 11th, Nitin Agrawal sold 66,467 shares of CoreWeave stock. The shares were sold at an average price of $82.58, for a total transaction of $5,488,844.86.
• On Tuesday, November 25th, Nitin Agrawal sold 3,640 shares of CoreWeave stock. The stock was sold at an average price of $70.27, for a total transaction of $255,782.80.
• On Thursday, November 20th, Nitin Agrawal sold 5,841 shares of CoreWeave stock. The shares were sold at an average price of $82.55, for a total transaction of $482,174.55.

CoreWeave Stock Performance

CRWV traded up $3.13 on Thursday, reaching $67.68. The company had a trading volume of 32,797,324 shares, compared to its average volume of 28,974,404. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. CoreWeave Inc. has a 1 year low of $33.51 and a 1 year high of $187.00. The stock has a market capitalization of $26.15 billion and a PE ratio of -46.68. The stock has a 50-day moving average price of $99.68 and a 200-day moving average price of $118.69.

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

Wall Street Analyst Weigh In

CRWV has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of CoreWeave in a research note on Monday. Stifel Nicolaus set a $120.00 price target on CoreWeave in a report on Tuesday, November 11th. Loop Capital reduced their price objective on CoreWeave from $165.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Roth Capital started coverage on CoreWeave in a research report on Thursday, December 4th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Seaport Res Ptn raised CoreWeave to a “hold” rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, CoreWeave has an average rating of “Hold” and an average target price of $128.53.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Costello Asset Management INC increased its stake in CoreWeave by 33.3% in the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after purchasing an additional 100 shares in the last quarter. Chilton Capital Management LLC raised its stake in shares of CoreWeave by 50.2% during the 3rd 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 last quarter. Family Legacy Financial Solutions LLC boosted its position in shares of 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 buying an additional 125 shares in the last quarter. CoreCap Advisors LLC grew its stake in CoreWeave by 29.6% in the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after acquiring an additional 147 shares during 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 worth $93,000 after acquiring an additional 180 shares during the last quarter.

About CoreWeave

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.