CoreWeave (NASDAQ:CRWV) CFO Sells $5,488,844.86 in Stock

CoreWeave Inc. (NASDAQ:CRWV) CFO Nitin Agrawal sold 66,467 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $82.58, for a total value of $5,488,844.86. Following the completion of the sale, the chief financial officer directly owned 203,392 shares of the company’s stock, valued at $16,796,111.36. The trade was a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 value 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 value of $482,174.55.
• On Tuesday, September 16th, Nitin Agrawal sold 38,422 shares of CoreWeave stock. The shares were sold at an average price of $118.18, for a total value of $4,540,711.96.

CoreWeave Stock Performance

Shares of CoreWeave stock opened at $78.59 on Monday. The firm’s fifty day simple moving average is $105.11 and its 200-day simple moving average is $119.95. CoreWeave Inc. has a 12 month low of $33.51 and a 12 month high of $187.00. The stock has a market capitalization 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 (NASDAQ:CRWV) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. The firm’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.82) EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRWV shares. Arete Research upgraded CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, August 21st. Citizens Jmp raised CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Tuesday, September 16th. Moffett Nathanson increased their price target on CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 19th. Stifel Nicolaus set a $120.00 price objective on shares of CoreWeave in a research report on Tuesday, November 11th. Finally, Evercore ISI cut their price objective on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, CoreWeave has an average rating of “Hold” and a consensus price target of $129.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC raised its holdings in shares of CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Vanguard Group Inc. increased its position in CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after purchasing an additional 3,888,164 shares in the last quarter. Invesco Ltd. increased its position in CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after purchasing an additional 2,993,889 shares in the last quarter. Clear Street Group Inc. acquired a new position in CoreWeave in the 3rd quarter valued at about $405,199,000. Finally, Lavaca Capital LLC purchased a new position in CoreWeave in the 3rd quarter valued at about $273,700,000.

CoreWeave Company Profile

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.