Key Points
- Nitin Agrawal, CoreWeave's CFO, sold 5,841 shares on November 20 at an average price of $82.55 for about $482,174, reducing his stake to 151,159 shares (a 3.72% decrease).
- CoreWeave shares traded around $71.65 mid-day, well below their 50- and 200-day SMAs (~$119), with a market cap of roughly $27.7 billion and a negative P/E; the company reported Q3 revenue of $1.36 billion (up 133.7% YoY) and EPS of -$0.22, beating estimates.
- Several large institutions (including Proficio, Vanguard and Invesco) materially increased positions in the quarter, and analysts maintain a consensus rating of “Moderate Buy” with an average target of $130.14.
CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) insider Kristen Mcveety sold 2,231 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $82.55, for a total transaction of $184,169.05. Following the completion of the sale, the insider owned 2,195 shares of the company's stock, valued at approximately $181,197.25. The trade was a 50.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
CoreWeave Price Performance
Shares of CoreWeave stock traded up $2.44 on Friday, hitting $71.65. 38,795,420 shares of the company were exchanged, compared to its average volume of 30,122,880. 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 company has a 50-day moving average price of $119.43 and a 200 day moving average price of $119.50. The stock has a market capitalization of $27.69 billion and a price-to-earnings ratio of -49.41. CoreWeave Inc. has a 1-year low of $33.51 and a 1-year high of $187.00.
CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. CoreWeave's revenue for the quarter was up 133.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.82) EPS. CoreWeave has set its FY 2025 guidance at EPS.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its holdings in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock worth $2,443,013,000 after buying an additional 17,847,760 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CoreWeave by 109.7% during the third quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company's stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares during the period. Invesco Ltd. raised its stake in shares of CoreWeave by 55,329.7% in the third quarter. Invesco Ltd. now owns 2,999,300 shares of the company's stock valued at $410,454,000 after acquiring an additional 2,993,889 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of CoreWeave in the third quarter valued at $405,199,000. Finally, Lavaca Capital LLC purchased a new position in CoreWeave in the third quarter valued at $273,700,000.
Analysts Set New Price Targets
Several research firms have recently commented on CRWV. Melius upgraded CoreWeave from a "hold" rating to a "buy" rating and set a $165.00 price target on the stock in a report on Tuesday, September 23rd. Raymond James Financial started coverage on shares of CoreWeave in a research note on Monday, September 15th. They set an "outperform" rating and a $130.00 target price on the stock. Arete Research upgraded shares of CoreWeave from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Citigroup upgraded shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $160.00 price target for the company in a report on Thursday, July 31st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of CoreWeave in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $130.14.
Check Out Our Latest Research Report on CoreWeave
CoreWeave Company Profile
(
Get Free Report)
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.
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