Jeff Baker Sells 6,455 Shares of CoreWeave (NASDAQ:CRWV) Stock

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) insider Jeff Baker sold 6,455 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $66.51, for a total transaction of $429,322.05. Following the completion of the sale, the insider directly owned 7,167 shares in the company, valued at approximately $476,677.17. The trade was a 47.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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Jeff Baker also recently made the following trade(s):

• On Tuesday, June 30th, Jeff Baker sold 4 shares of CoreWeave stock. The shares were sold at an average price of $95.69, for a total value of $382.76.
• On Wednesday, May 20th, Jeff Baker sold 1,320 shares of CoreWeave stock. The shares were sold at an average price of $99.82, for a total value of $131,762.40.
• On Thursday, May 14th, Jeff Baker sold 42,515 shares of CoreWeave stock. The stock was sold at an average price of $113.94, for a total value of $4,844,159.10.

CoreWeave Stock Up 21.9%

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Shares of CRWV opened at $74.11 on Friday. The company has a market capitalization of $33.17 billion, a price-to-earnings ratio of -23.83 and a beta of 7.17. CoreWeave Inc. has a 52 week low of $60.55 and a 52 week high of $153.20. The stock's 50-day moving average price is $94.25 and its 200-day moving average price is $95.16. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

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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 the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $2.08 billion for the quarter. During the same period in the prior year, the company posted ($0.60) EPS. The company's quarterly revenue was up 111.6% compared to the same quarter last year. On average, sell-side analysts predict that CoreWeave Inc. will post -4.57 EPS for the current year.

Trending Headlines about CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Defense partnership expands growth prospects: CoreWeave is teaming with Leidos to provide secure, sovereign AI-cloud infrastructure for U.S. defense, national security and intelligence agencies. The agreement could open a sizable government market and support longer-term demand for CoreWeave’s data-center capacity. Leidos and CoreWeave collaboration
• Positive Sentiment: Revenue outlook remains strong: Oppenheimer expects CoreWeave to report second-quarter revenue near the high end of its $2.45 billion to $2.60 billion guidance range, reinforcing the company’s rapid AI-infrastructure growth story. CoreWeave Q2 revenue outlook
• Neutral Sentiment: Large customer commitments provide demand visibility, but competition is rising: Meta could spend more than $62 billion with CoreWeave and Nebius, including up to $35.2 billion in CoreWeave agreements. Yet Meta may eventually offer competing cloud services, creating a potential long-term customer and competitive risk. Meta CoreWeave and Nebius spending
• Negative Sentiment: Debt and credit concerns remain the main overhang: Reports highlight CoreWeave’s heavy GPU-related borrowing, significant capital spending and weak profitability. Rising credit-default-swap costs have reportedly implied sharply higher perceived default risk, intensifying worries about refinancing and cash flow ahead of the company’s August 11 earnings report. CoreWeave credit-default-swap concerns
• Negative Sentiment: Insider selling weighs on sentiment: CEO Michael Intrator sold 307,692 shares for approximately $20.5 million, while another insider sold shares to cover tax withholding. The CEO’s transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their signaling value, but the sizable sales still add pressure to the stock. CoreWeave SEC insider filing

Institutional Investors Weigh In On CoreWeave

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A number of large investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC lifted its position in CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after buying an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock worth $28,000 after acquiring an additional 121 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in shares of CoreWeave during the 4th quarter worth $28,000. Peterson Wealth Services boosted its position in shares of CoreWeave by 153.1% during the 1st quarter. Peterson Wealth Services now owns 405 shares of the company's stock valued at $31,000 after acquiring an additional 245 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of CoreWeave during the 1st quarter valued at about $31,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRWV. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $135.00 price target on shares of CoreWeave in a report on Friday, May 8th. Sanford C. Bernstein assumed coverage on shares of CoreWeave in a research note on Wednesday, July 22nd. They set an "outperform" rating on the stock. Jefferies Financial Group cut CoreWeave from a "buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Raymond James Financial cut CoreWeave from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded CoreWeave from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Get Our Latest Research Report on CoreWeave

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.

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