CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading Up 4.1% - Here's Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s stock price shot up 4.1% during mid-day trading on Friday . The stock traded as high as $43.81 and last traded at $43.47. 1,710,032 shares changed hands during trading, a decline of 88% from the average session volume of 13,898,823 shares. The stock had previously closed at $41.77.

Analyst Upgrades and Downgrades

CRWV has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 target price for the company. Melius Research raised CoreWeave, Inc. Class A Common Stock to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America initiated coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $42.00 target price for the company. JPMorgan Chase & Co. initiated coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $43.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $54.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $46.86.

CoreWeave, Inc. Class A Common Stock Stock Up 1.2 %

Insiders Place Their Bets

In other CoreWeave, Inc. Class A Common Stock news, insider Kristen J. Mcveety sold 69,460 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the sale, the chief financial officer now owns 231,811 shares in the company, valued at $9,272,440. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,940 shares of company stock worth $13,786,546.

About CoreWeave, Inc. Class A Common Stock

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.