CoreWeave (NASDAQ:CRWV) Shares Down 3% Following Insider Selling
by Doug Wharley · The Cerbat GemCoreWeave Inc. (NASDAQ:CRWV – Get Free Report)’s stock price fell 3% on Friday following insider selling activity. The company traded as low as $83.17 and last traded at $84.23. 17,211,377 shares traded hands during trading, a decline of 40% from the average session volume of 28,474,244 shares. The stock had previously closed at $86.80.
Specifically, CFO Nitin Agrawal sold 5,509 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $88.64, for a total value of $488,317.76. Following the transaction, the chief financial officer directly owned 132,596 shares in the company, valued at approximately $11,753,309.44. This trade represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 107,692 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $88.60, for a total value of $9,541,511.20. Following the sale, the chief executive officer owned 1,553,062 shares of the company’s stock, valued at approximately $137,601,293.20. The trade was a 6.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, CEO Michael N. Intrator sold 200,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $88.60, for a total transaction of $17,720,000.00. Following the transaction, the chief executive officer owned 1,487,129 shares of the company’s stock, valued at $131,759,629.40. This represents a 11.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analysts Set New Price Targets
A number of analysts recently commented on CRWV shares. UBS Group reiterated an “underperform” rating on shares of CoreWeave in a research report on Wednesday, August 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of CoreWeave in a research note on Wednesday, August 12th. Jefferies Financial Group downgraded shares of CoreWeave from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Piper Sandler restated an “overweight” rating and issued a $153.00 price objective (up from $151.00) on shares of CoreWeave in a report on Wednesday, August 12th. Finally, BNP Paribas Exane initiated coverage on shares of CoreWeave in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 price objective on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, CoreWeave presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.90.
Check Out Our Latest Research Report on CoreWeave
More CoreWeave News
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: CoreWeave is being integrated into Rescale’s AI cloud platform, expanding its reach into engineering simulation, research and development, and other high-performance workloads. The partnership could support broader enterprise adoption and improve utilization of CoreWeave’s GPU infrastructure. CoreWeave Enters Next Generation Engineering AI Workloads
- Positive Sentiment: Analysts at Truist said reported NVIDIA GPU price increases of roughly 17% may not necessarily damage CoreWeave’s profitability. Strong AI demand, customer contracts and potential pricing power could allow the company to pass along higher equipment costs. NVIDIA GPU Price Hikes Look Bad for CoreWeave
- Neutral Sentiment: CoreWeave’s recent earnings showed revenue more than doubling year over year to $2.58 billion, while the company continued to report a net loss. Analysts maintain a broadly favorable average rating, but forecasts still call for a full-year loss, reflecting the company’s rapid-growth investment phase.
- Negative Sentiment: CEO Michael Intrator sold 307,692 shares worth approximately $27.3 million, while CFO Nitin Agrawal sold 5,509 shares worth about $488,000. The transactions were conducted under pre-arranged Rule 10b5-1 plans, but their size and timing heightened concerns about insider confidence. CoreWeave Insider Selling
- Negative Sentiment: Investors remain concerned about CoreWeave’s debt-heavy balance sheet, negative earnings and the possibility that rising GPU costs or future competition could pressure cloud-computing prices and margins. These risks are weighing on the stock despite strong demand for AI infrastructure.
CoreWeave Price Performance
The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of -23.08 and a beta of 7.44. The company has a 50-day moving average price of $87.84 and a 200-day moving average price of $94.87.
CoreWeave (NASDAQ:CRWV – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.52) by $0.38. The business had revenue of $2.58 billion for the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The firm’s revenue was up 112.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) EPS. On average, equities research analysts expect that CoreWeave Inc. will post -5.19 EPS for the current fiscal year.
Hedge Funds Weigh In On CoreWeave
Institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its position in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after acquiring an additional 121 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in CoreWeave in the fourth quarter valued at about $28,000. Essential Partners LLC bought a new stake in shares of CoreWeave in the second quarter worth about $30,000. Finally, Peterson Wealth Services increased its holdings in shares of CoreWeave by 153.1% in the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after acquiring an additional 245 shares in the last quarter.
About CoreWeave
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.