Magnetar Financial sells $231.6m in CoreWeave stock

Magnetar Financial LLC, a 10% shareholder and director of CoreWeave, sold 2.13 million shares of the company's Class A Common Stock on August 12, 2026. The sale amounted to roughly $231.6 million, executed at an average price of $108 per share. Individual transactions ranged from $107 to $108 per share. The stock is currently trading at $105.26, slightly below the sale price.

Despite this, analysts believe CoreWeave is undervalued based on its Fair Value assessment. The IT Services firm boasts a market capitalization of $58.6 billion.

Following the sales, Magnetar Financial LLC and associated entities retain significant shares indirectly through various Magnetar Funds. Magnetar Financial LLC, along with its parent company Magnetar Capital Partners LP and its manager David J. Snyderman, does not hold a beneficial interest in these shares, except for their pecuniary interest. For a deeper analysis of CoreWeave's valuation, investors can consult the full Pro Research Report on InvestingPro.

CoreWeave's recent quarterly results surpassed expectations, with revenue up 0.8% and adjusted EBITDA increasing by 6.2%. The company also raised its fiscal 2026 guidance due to robust demand. CoreWeave added nearly 500 megawatts of capacity in the second quarter, a notable boost in its operational capacity. Truist Securities raised its price target to $155 and maintained a Buy rating, while Piper Sandler increased its target to $153.

Cantor Fitzgerald raised its target to $178. However, Bernstein SocGen Group lowered its price target to $74, maintaining an Underperform rating. DA Davidson left its target at $100, forecasting capital expenditures for the next quarter between $11.5 billion and $13.5 billion.