Magnetar Financial, CoreWeave 10% owner, sells $33.4m stock
Magnetar Financial, CoreWeave 10% owner, sells $33.4m stock
Magnetar Financial LLC, a 10% owner and director of CoreWeave, Inc. (NASDAQ:CRWV), sold a significant block of Class A Common Stock on August 14, 2026. The transactions totaled 307,131 shares, with a combined value of approximately $33.4 million. The shares were sold at prices ranging from $108.48 to $110.0 per share. The stock currently trades at $105.26, below the sale price range, despite posting a 16% return over the past week. According to InvestingPro analysis, CoreWeave appears undervalued at current levels, with the platform offering 16 additional ProTips and comprehensive Pro Research Reports for deeper analysis.
Magnetar Financial LLC serves as the investment adviser to a group of funds, collectively referred to as the Magnetar Funds, which directly hold these securities. Magnetar Financial, along with its parent company Magnetar Capital Partners LP, its general partner Supernova Management LLC, and its administrative manager David J. Snyderman, disclaims beneficial ownership of these shares except to the extent of their pecuniary interest.
Following these transactions, the various Magnetar Funds continue to hold Class A Common Stock in CoreWeave.
In other recent news, CoreWeave reported strong quarterly earnings, surpassing revenue and adjusted operating income expectations. The company energized nearly 500 megawatts of IT capacity, marking a significant milestone in its expansion efforts. CoreWeave also raised its fiscal 2026 guidance, reflecting strong demand, as noted by Bernstein SocGen Group. In response to the company’s performance, Truist Securities increased its price target for CoreWeave shares to $155, highlighting the notable capacity growth. Piper Sandler also raised its price target to $153, citing increased net-new active megawatts and third-quarter bookings. Cantor Fitzgerald followed suit, adjusting its target to $178, supported by the company’s quarterly results that exceeded consensus expectations. Meanwhile, DA Davidson maintained a Neutral rating with a $100 price target, noting the company’s guidance for capital expenditures ranging from $11.5 billion to $13.5 billion for the next quarter. These developments highlight CoreWeave’s strategic expansion and strong market positioning.