CoreWeave (NASDAQ:CRWV) Insider Sells $24,679,687.50 in Stock

by · The Cerbat Gem

CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) insider Brian Venturo sold 281,250 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $87.75, for a total transaction of $24,679,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CoreWeave Stock Down 10.1%

NASDAQ CRWV traded down $8.79 on Friday, hitting $78.59. The stock had a trading volume of 35,054,010 shares, compared to its average volume of 24,413,855. The business’s fifty day moving average price is $106.23 and its 200 day moving average price is $120.12. The stock has a market cap of $30.37 billion and a price-to-earnings ratio of -54.20. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. CoreWeave Inc. has a 52-week low of $33.51 and a 52-week high of $187.00.

CoreWeave (NASDAQ:CRWV – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.22) 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 analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned ($1.82) earnings per share. The business’s revenue for the quarter was up 133.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRWV shares. Jefferies Financial Group dropped their target price on CoreWeave from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Melius Research set a $140.00 price objective on shares of CoreWeave in a research note on Tuesday, November 11th. Arete Research raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a report on Thursday, August 21st. Loop Capital lowered their price target on shares of CoreWeave from $165.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Evercore ISI dropped their price target on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $129.47.

Check Out Our Latest Report on CoreWeave

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Apexium Financial LP acquired a new position in shares of CoreWeave during the 2nd quarter valued at about $1,044,000. Chung Wu Investment Group LLC acquired a new stake in CoreWeave during the second quarter worth $755,000. Cisco Systems Inc. purchased a new stake in CoreWeave in the second quarter valued at $173,493,000. Gamco Investors INC. ET AL acquired a new position in shares of CoreWeave in the 1st quarter valued at $318,000. Finally, Rockline Wealth Management LLC purchased a new position in shares of CoreWeave during the 2nd quarter worth $951,000.

About CoreWeave

(Get Free Report)

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.

Read More