CoreWeave (NASDAQ:CRWV) Shares Down 8.1% Following Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) fell 8.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $80.16 and last traded at $80.45. 18,234,108 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 25,988,580 shares. The stock had previously closed at $87.58.

Specifically, insider Brannin Mcbee sold 43,750 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $82.53, for a total value of $3,610,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brannin Mcbee sold 100,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $82.53, for a total transaction of $8,253,000.00. Following the completion of the transaction, the insider owned 248,664 shares in the company, valued at approximately $20,522,239.92. This trade represents a 28.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other CoreWeave news, insider Brannin Mcbee sold 22,915 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $82.53, for a total transaction of $1,891,174.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

CRWV has been the subject of a number of analyst reports. Macquarie Infrastructure reissued a “neutral” rating and issued a $115.00 price objective on shares of CoreWeave in a research report on Tuesday, January 27th. Roth Mkm restated a “buy” rating on shares of CoreWeave in a research report on Monday, February 23rd. Citigroup lowered their target price on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $131.00 price target on shares of CoreWeave in a report on Friday, February 27th. Finally, Jefferies Financial Group reduced their price target on CoreWeave from $155.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Nineteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, CoreWeave currently has an average rating of “Moderate Buy” and an average target price of $121.06.

CoreWeave Price Performance

The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46. The company’s 50-day moving average is $88.25 and its 200-day moving average is $97.30. The firm has a market capitalization of $31.35 billion and a price-to-earnings ratio of -23.38.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The company had revenue of $1.57 billion for the quarter. The company’s quarterly revenue was up 110.4% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CRWV. Hsbc Holdings PLC grew its position in CoreWeave by 6,497.0% during the fourth quarter. Hsbc Holdings PLC now owns 425,970 shares of the company’s stock valued at $30,574,000 after acquiring an additional 419,513 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of CoreWeave by 95.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 66,623 shares of the company’s stock worth $4,771,000 after purchasing an additional 32,569 shares during the period. Osbon Capital Management LLC acquired a new position in shares of CoreWeave in the 4th quarter valued at about $114,000. World Investment Advisors grew its holdings in shares of CoreWeave by 238.1% during the 4th quarter. World Investment Advisors now owns 8,026 shares of the company’s stock worth $575,000 after purchasing an additional 5,652 shares during the period. Finally, Nalls Sherbakoff Group LLC acquired a new stake in CoreWeave during the 4th quarter worth approximately $36,000.

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.