Brannin Mcbee Sells 144,000 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) insider Brannin Mcbee sold 144,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $107.30, for a total transaction of $15,451,200.00. Following the sale, the insider directly owned 258,852 shares in the company, valued at approximately $27,774,819.60. This represents a 35.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brannin Mcbee also recently made the following trade(s):

  • On Monday, June 15th, Brannin Mcbee sold 53,500 shares of CoreWeave stock. The shares were sold at an average price of $107.30, for a total transaction of $5,740,550.00.
  • On Monday, June 15th, Brannin Mcbee sold 52,500 shares of CoreWeave stock. The shares were sold at an average price of $107.30, for a total transaction of $5,633,250.00.
  • On Monday, June 8th, Brannin Mcbee sold 50,500 shares of CoreWeave stock. The shares were sold at an average price of $101.84, for a total transaction of $5,142,920.00.
  • On Monday, June 8th, Brannin Mcbee sold 144,000 shares of CoreWeave stock. The shares were sold at an average price of $101.84, for a total transaction of $14,664,960.00.
  • On Monday, June 8th, Brannin Mcbee sold 55,500 shares of CoreWeave stock. The shares were sold at an average price of $101.84, for a total transaction of $5,652,120.00.
  • On Wednesday, May 20th, Brannin Mcbee sold 3,683 shares of CoreWeave stock. The shares were sold at an average price of $99.82, for a total transaction of $367,637.06.
  • On Monday, April 27th, Brannin Mcbee sold 87,500 shares of CoreWeave stock. The shares were sold at an average price of $109.03, for a total transaction of $9,540,125.00.
  • On Monday, April 27th, Brannin Mcbee sold 200,000 shares of CoreWeave stock. The shares were sold at an average price of $109.03, for a total transaction of $21,806,000.00.
  • On Monday, April 27th, Brannin Mcbee sold 45,850 shares of CoreWeave stock. The shares were sold at an average price of $109.03, for a total transaction of $4,999,025.50.
  • On Monday, April 20th, Brannin Mcbee sold 87,500 shares of CoreWeave stock. The shares were sold at an average price of $115.94, for a total transaction of $10,144,750.00.

CoreWeave Price Performance

CoreWeave stock traded down $1.82 during midday trading on Wednesday, hitting $115.21. 26,176,775 shares of the stock were exchanged, compared to its average volume of 27,073,012. The company has a fifty day simple moving average of $109.72 and a two-hundred day simple moving average of $93.38. CoreWeave Inc. has a 52 week low of $63.80 and a 52 week high of $187.00. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWVGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.40) 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 return on equity of 43.07% and a negative net margin of 25.57%.The business’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.60) EPS. On average, sell-side analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CRWV. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, March 24th. BNP Paribas Exane began coverage on shares of CoreWeave in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup boosted their target price on shares of CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.52.

Get Our Latest Research Report on CoreWeave

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in CoreWeave by 4.0% in the first quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock valued at $181,000 after purchasing an additional 91 shares in the last quarter. Pathway Wealth Management LLC raised its stake in CoreWeave by 2.9% in the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock valued at $278,000 after purchasing an additional 100 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in CoreWeave by 2.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock valued at $389,000 after purchasing an additional 104 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in CoreWeave by 34.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock valued at $33,000 after purchasing an additional 119 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter.

Key Stories Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

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.

Further Reading

Insider Buying and Selling by Quarter for CoreWeave (NASDAQ:CRWV)

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