Nitin Agrawal Sells 58,429 Shares of CoreWeave (NASDAQ:CRWV) Stock

Key Points

  • CoreWeave CFO Nitin Agrawal sold 58,429 shares on June 16 at an average price of $116.70, totaling about $6.82 million. The sale reduced his ownership by 23.17% and was made under a pre-arranged Rule 10b5-1 plan.
  • Agrawal has been actively selling shares in recent months, including a larger sale of 63,891 shares on June 11 and several smaller transactions in May and March. The repeated insider activity may draw investor attention, even though the trades were preplanned.
  • CoreWeave shares rose 2.4% and were trading near $117.95, with the company sporting a $52.79 billion market cap. Despite strong revenue growth of 111.6% year over year, CoreWeave reported a quarterly EPS miss and continues to face concerns over leverage and profitability.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) CFO Nitin Agrawal sold 58,429 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $116.70, for a total value of $6,818,664.30. Following the completion of the transaction, the chief financial officer owned 193,771 shares in the company, valued at $22,613,075.70. This represents a 23.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nitin Agrawal also recently made the following trade(s):

  • On Thursday, June 11th, Nitin Agrawal sold 63,891 shares of CoreWeave stock. The stock was sold at an average price of $93.35, for a total value of $5,964,224.85.
  • On Wednesday, May 27th, Nitin Agrawal sold 5,508 shares of CoreWeave stock. The shares were sold at an average price of $102.17, for a total value of $562,752.36.
  • On Wednesday, May 20th, Nitin Agrawal sold 10,062 shares of CoreWeave stock. The stock was sold at an average price of $99.82, for a total value of $1,004,388.84.
  • On Wednesday, April 8th, Nitin Agrawal sold 14 shares of CoreWeave stock. The stock was sold at an average price of $92.00, for a total value of $1,288.00.
  • On Tuesday, March 31st, Nitin Agrawal sold 16 shares of CoreWeave stock. The shares were sold at an average price of $74.05, for a total transaction of $1,184.80.

CoreWeave Trading Up 2.4%




NASDAQ CRWV opened at $117.95 on Friday. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $52.79 billion, a P/E ratio of -37.93 and a beta of 7.14. The firm's 50-day moving average is $110.37 and its two-hundred day moving average is $93.70. CoreWeave Inc. has a 12 month low of $63.80 and a 12 month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts' consensus estimates 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%. CoreWeave's revenue was up 111.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.60) EPS. On average, sell-side analysts anticipate that CoreWeave Inc. will post -4.57 earnings per share for the current year.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

Analyst Ratings Changes

CRWV has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on CoreWeave from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Citigroup lifted their price objective on CoreWeave from $155.00 to $158.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Jefferies Financial Group boosted their price objective on CoreWeave from $120.00 to $160.00 and gave the company a "buy" rating in a report on Monday, May 4th. Weiss Ratings restated a "sell (e+)" rating on shares of CoreWeave in a report on Monday, May 4th. Finally, Truist Financial lifted their target price on CoreWeave from $85.00 to $131.00 and gave the company a "hold" rating in a research report on Friday, May 8th. Twenty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $131.52.

Read Our Latest Analysis on CRWV

Institutional Trading of CoreWeave

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of 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 purchasing an additional 17,847,760 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of 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 purchasing an additional 3,796,077 shares in the last quarter. Altimeter Capital Management LP purchased a new stake in shares of CoreWeave during the 4th quarter worth $230,099,000. Finally, Alyeska Investment Group L.P. lifted its position in shares of 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 purchasing 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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