CoreWeave (NASDAQ:CRWV) Director Sells $100,200,000.00 in Stock
Key Points
- Jack D. Cogen, a director at CoreWeave Inc., sold 1,000,000 shares of the company's stock for $100.2 million, reducing his ownership by 6.92%.
- CoreWeave reported a quarterly loss of ($0.27) EPS, missing analysts' expectations, but showed a significant year-over-year revenue growth of 206.7%.
- Analysts have varied opinions on CoreWeave, with ratings ranging from sell to strong buy, reflecting an average target price of $99.80.
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- oreWeave Inc. (NASDAQ:CRWV - Get Free Report) Director Jack D. Cogen sold 1,000,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $100.20, for a total transaction of $100,200,000.00. Following the transaction, the director directly owned 13,441,680 shares of the company's stock, valued at $1,346,856,336. This represents a 6.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
CoreWeave Stock Up 1.2%
Shares of CRWV traded up $1.05 during trading hours on Friday, reaching $91.84. 4,287,080 shares of the company traded hands, compared to its average volume of 20,001,199. The firm has a fifty day moving average of $134.78. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52. 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 announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The firm had revenue of $1.21 million for the quarter. The company's revenue for the quarter was up 206.7% compared to the same quarter last year. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.
Analyst Ratings Changes
A number of analysts recently weighed in on CRWV shares. HC Wainwright raised shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Thursday. Argus reissued a "buy" rating and issued a $200.00 target price on shares of CoreWeave in a research note on Thursday, August 14th. Arete raised shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Thursday. Wall Street Zen cut shares of CoreWeave from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley upped their target price on shares of CoreWeave from $58.00 to $91.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $107.05.
Institutional Trading of CoreWeave
Several large investors have recently added to or reduced their stakes in CRWV. Cisco Systems Inc. bought a new stake in CoreWeave during the second quarter worth about $173,493,000. Geode Capital Management LLC grew its stake in CoreWeave by 142.6% during the second quarter. Geode Capital Management LLC now owns 716,178 shares of the company's stock worth $116,809,000 after buying an additional 420,915 shares during the last quarter. Lmdagg L.L.C. bought a new stake in CoreWeave during the second quarter worth about $48,030,000. Sivia Capital Partners LLC bought a new stake in CoreWeave during the second quarter worth about $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in CoreWeave during the second quarter worth about $34,284,000.
CoreWeave Company Profile
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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