CoreWeave (NASDAQ:CRWV) Stock Price Down 3.1% After Insider Selling

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) dropped 3.1% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $70.43 and last traded at $71.61. Approximately 17,853,287 shares changed hands during trading, a decline of 28% from the average daily volume of 24,650,189 shares. The stock had previously closed at $73.90.

Specifically, insider Brannin Mcbee sold 30,000 shares of CoreWeave stock in a transaction on Monday, December 29th. The stock was sold at an average price of $75.62, for a total value of $2,268,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brannin Mcbee sold 102,835 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $75.63, for a total value of $7,777,411.05. Following the sale, the insider directly owned 185,181 shares of the company’s stock, valued at approximately $14,005,239.03. This represents a 35.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, insider Brannin Mcbee sold 33,835 shares of CoreWeave stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $75.63, for a total value of $2,558,941.05. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

Several research analysts have commented on CRWV shares. Morgan Stanley raised their target price on shares of CoreWeave from $91.00 to $99.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. JMP Securities raised shares of CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price objective for the company in a research note on Tuesday, September 16th. Jefferies Financial Group cut their target price on shares of CoreWeave from $180.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of CoreWeave in a report on Monday. Finally, Roth Capital assumed coverage on CoreWeave in a report on Thursday, December 4th. They set a “buy” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.70.

View Our Latest Stock Report on CRWV

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

CoreWeave Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The stock’s 50 day moving average price is $88.58 and its two-hundred day moving average price is $113.85. The firm has a market capitalization of $27.67 billion and a price-to-earnings ratio of -49.39.

CoreWeave (NASDAQ:CRWVGet Free Report) last issued its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates 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. During the same quarter last year, the firm earned ($1.82) EPS. The business’s revenue for the quarter was up 133.7% compared to the same quarter last year.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in CRWV. Family Legacy Financial Solutions LLC raised its position in CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. HighMark Wealth Management LLC acquired a new position in shares of CoreWeave during the 3rd quarter worth $27,000. OLD Second National Bank of Aurora bought a new position in shares of CoreWeave during the 3rd quarter valued at $27,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave in the 3rd quarter valued at $27,000. Finally, Princeton Global Asset Management LLC bought a new stake in CoreWeave in the third quarter worth $28,000.

About CoreWeave

(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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