Key Points
- CFO Nitin Agrawal sold 38,456 shares on March 17 at $83.23 for $3.20M and has disposed of about 110,916 shares for roughly $9.0M in recent trades, reducing his stake by 16.84%.
- Shares are trading around $80.66 (down ~2.6%), below the 50- and 200-day averages; the company reported a Q4 EPS of -$0.89 (miss) while revenue rose 110.4% y/y to $1.57B, leaving CoreWeave unprofitable.
- Analysts hold a consensus "Moderate Buy" with a $122.35 price target (18 Buys, 12 Holds, 2 Sells), and large institutions like Vanguard and Proficio have dramatically increased positions.
CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) CFO Nitin Agrawal sold 38,456 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $83.23, for a total transaction of $3,200,692.88. Following the completion of the transaction, the chief financial officer directly owned 189,892 shares in the company, valued at $15,804,711.16. This trade represents a 16.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Nitin Agrawal also recently made the following trade(s):
- On Wednesday, March 11th, Nitin Agrawal sold 63,157 shares of CoreWeave stock. The shares were sold at an average price of $79.68, for a total transaction of $5,032,349.76.
- On Tuesday, March 3rd, Nitin Agrawal sold 3,920 shares of CoreWeave stock. The shares were sold at an average price of $73.20, for a total transaction of $286,944.00.
- On Friday, February 20th, Nitin Agrawal sold 5,383 shares of CoreWeave stock. The stock was sold at an average price of $90.84, for a total value of $488,991.72.
CoreWeave Stock Down 2.6%
CRWV opened at $80.66 on Friday. The business's 50-day simple moving average is $89.34 and its 200-day simple moving average is $97.76. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46. CoreWeave Inc. has a one year low of $33.51 and a one year high of $187.00. The stock has a market capitalization of $33.80 billion and a P/E ratio of -25.21.
CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The firm's quarterly revenue was up 110.4% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CRWV. HC Wainwright reissued a "buy" rating and issued a $180.00 price objective on shares of CoreWeave in a report on Monday, March 2nd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $180.00 target price on shares of CoreWeave in a report on Friday, February 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of CoreWeave in a research report on Monday, December 29th. Jefferies Financial Group lowered their price objective on shares of CoreWeave from $155.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, January 5th. Finally, Truist Financial lifted their price objective on shares of CoreWeave from $84.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, February 27th. Eighteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave has a consensus rating of "Moderate Buy" and a consensus price target of $122.35.
Get Our Latest Research Report on CRWV
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after purchasing an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC grew its position in CoreWeave by 446,194.0% in the 3rd 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 last quarter. Deutsche Bank AG increased its stake in CoreWeave by 22,624.0% in the 4th 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 acquired a new position in CoreWeave in the 4th quarter valued at $230,099,000. Finally, Alyeska Investment Group L.P. raised its position in CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock worth $286,440,000 after buying an additional 3,000,000 shares during the last quarter.
CoreWeave Company Profile
(
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
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