CoreWeave (NASDAQ:CRWV) Stock Price Down 5.6% – Time to Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price traded down 5.6% on Monday . The company traded as low as $106.61 and last traded at $111.29. 29,579,258 shares traded hands during trading, an increase of 3% from the average session volume of 28,590,139 shares. The stock had previously closed at $117.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRWV shares. Bank of America raised CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, March 24th. Wells Fargo & Company lifted their target price on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $167.00 price target on shares of CoreWeave in a research note on Thursday, June 11th. Roth Mkm reaffirmed a “buy” rating and set a $150.00 price target on shares of CoreWeave in a report on Friday, May 8th. Finally, Mizuho upped their price target on CoreWeave from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Twenty investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, CoreWeave currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

CoreWeave Trading Down 5.6%

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The firm has a market capitalization of $49.81 billion, a PE ratio of -35.78 and a beta of 7.18. The stock’s fifty day simple moving average is $110.95 and its 200 day simple moving average is $93.99.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business’s revenue for the quarter was up 111.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.60) earnings per share. On average, sell-side analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insider Activity

In other CoreWeave news, Director Jack D. Cogen sold 986,540 shares of CoreWeave stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $107.80, for a total value of $106,349,012.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the completion of the sale, the insider owned 285,327 shares in the company, valued at $23,071,541.22. This represents a 79.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,905,074 shares of company stock worth $3,163,836,081 over the last 90 days.

Institutional Trading of CoreWeave

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after buying an additional 20,487,478 shares during the period. Proficio Capital Partners LLC increased its stake in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after buying an additional 17,847,760 shares during the period. Deutsche Bank AG increased its stake in shares of CoreWeave by 22,624.0% during the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after buying an additional 3,796,077 shares during the period. Altimeter Capital Management LP purchased a new position in shares of CoreWeave during the fourth quarter valued at $230,099,000. Finally, Alyeska Investment Group L.P. raised its holdings in shares of CoreWeave by 300.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after acquiring an additional 3,000,000 shares in the last quarter.

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.