Magnetar Financial and its affiliates sold approximately $117.4 million of CoreWeave (CRWV) Class A Common Stock. The firm liquidated 961,269 shares on April 22 at prices between $118.31 and $124.59.
Chief Strategy Officer Brian Venturo also sold shares valued at roughly $9.4 million on the same day. These combined insider sales preceded a sharp decline in investor sentiment.
CoreWeave stock fell 6.2% to close at $110.14 on Friday, April 24. The sell-off occurred despite strong year-over-year revenue growth and new large-scale customer agreements. The company has not yet reached profitability.