CoreWeave (NASDAQ:CRWV) Insider Sells $7,871,632.92 in Stock

by · The Cerbat Gem

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) insider Brian Venturo sold 76,924 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $102.33, for a total value of $7,871,632.92. The sale was disclosed in a 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.

CoreWeave Stock Performance

Shares of NASDAQ CRWV traded up $2.67 during mid-day trading on Friday, hitting $109.53. The company had a trading volume of 28,046,612 shares, compared to its average volume of 27,964,777. The stock has a market cap of $49.02 billion, a price-to-earnings ratio of -35.22 and a beta of 7.84. CoreWeave Inc. has a 12 month low of $63.80 and a 12 month high of $187.00. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50 day simple moving average is $102.09 and its two-hundred day simple moving average is $90.49.

CoreWeave (NASDAQ:CRWVGet Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company’s revenue was up 111.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.60) earnings per share. As a group, equities research analysts forecast that CoreWeave Inc. will post -4.58 earnings per share for the current year.

Trending Headlines about CoreWeave

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Analysts Set New Price Targets

Several brokerages recently issued reports on CRWV. Cantor Fitzgerald raised their price target on CoreWeave from $156.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Citigroup lifted their price target on CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Mizuho boosted their price objective on CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price objective on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group lifted their target price on CoreWeave from $120.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, CoreWeave presently has a consensus rating of “Moderate Buy” and an average price target of $129.63.

Read Our Latest Stock Analysis on CoreWeave

Institutional Trading of CoreWeave

Several hedge funds have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. bought a new stake in CoreWeave during the 1st quarter valued at $852,000. Liontrust Investment Partners LLP raised its stake in CoreWeave by 24.1% during the 1st quarter. Liontrust Investment Partners LLP now owns 127,752 shares of the company’s stock valued at $9,897,000 after acquiring an additional 24,843 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in CoreWeave by 79.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 886 shares of the company’s stock valued at $69,000 after acquiring an additional 391 shares in the last quarter. Pathway Wealth Management LLC raised its stake in CoreWeave by 2.9% during the 1st quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock valued at $278,000 after acquiring an additional 100 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in CoreWeave during the 1st quarter valued at $300,000.

CoreWeave Company Profile

(Get Free Report)

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.

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