CoreWeave (NASDAQ:CRWV) Shares Gap Down on Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) shares gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $88.30, but opened at $83.65. CoreWeave shares last traded at $83.75, with a volume of 9,332,117 shares.

Specifically, CEO Michael N. Intrator sold 50,000 shares of CoreWeave stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $76.88, for a total value of $3,844,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael N. Intrator sold 32,455 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $76.88, for a total transaction of $2,495,140.40. Following the sale, the chief executive officer directly owned 5,926,145 shares in the company, valued at approximately $455,602,027.60. This represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In other CoreWeave news, insider Kristen J. Mcveety sold 2,116 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $74.53, for a total value of $157,705.48. Following the completion of the sale, the insider owned 79 shares in the company, valued at approximately $5,887.87. This trade represents a 96.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

CRWV has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of CoreWeave in a research note on Wednesday, August 13th. Bank of America reduced their price objective on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. The Goldman Sachs Group decreased their price objective on CoreWeave from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, November 17th. Jefferies Financial Group dropped their target price on CoreWeave from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research note on Monday. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, CoreWeave presently has a consensus rating of “Hold” and a consensus target price of $129.47.

CoreWeave Stock Up 5.1%

The business’s 50-day moving average is $108.22 and its two-hundred day moving average is $120.57. The firm has a market capitalization of $35.03 billion and a price-to-earnings ratio of -62.52. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.82) EPS.

Hedge Funds Weigh In On CoreWeave

Several institutional investors and hedge funds have recently made changes to their positions in CRWV. Costello Asset Management INC lifted its holdings in CoreWeave by 33.3% during the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock worth $65,000 after acquiring an additional 100 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of CoreWeave by 50.2% during the third quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after purchasing an additional 121 shares during the period. Family Legacy Financial Solutions LLC lifted its holdings in shares of CoreWeave by 166.7% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of CoreWeave by 29.6% during the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after purchasing an additional 147 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its position in shares of CoreWeave by 36.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after purchasing an additional 180 shares during the period.

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.