Michael N. Intrator, CoreWeave, Inc. (CRWV) CEO and President, disclosed a sale of 43,280 shares of Class A common stock on February 11, 2026, generating proceeds of $7,720,444. The shares were sold at prices between $89.2896 and $97.0968. The sales were conducted pursuant to a Rule 10b5-1 trading plan that Intrator adopted on May 23, 2025.
Following the transaction, Intrator directly holds 5,763,868 shares of Class A common stock. On the same date he reported the sales, Intrator also recorded the conversion of 50,000 shares of Class B common stock into Class A common stock through Omnadora Capital LLC.
At the time of the sales, CoreWeave was trading near $96 per share and had an estimated market capitalization of roughly $50 billion, reflecting about a 140% return over the prior 12 months according to InvestingPro data. Investors should note that CoreWeave’s next quarterly report is scheduled for February 26, 2026, twelve days after the disclosed insider transactions.
Operational and market context
CoreWeave’s public profile has been shaped by a mix of commercial momentum and financial scrutiny. Citizens reiterated a Market Outperform rating and highlighted a revenue backlog in excess of $56 billion, assigning a price target of $180. The company has been increasing its brand visibility, launching its first integrated campaign during the Winter Olympics featuring Chance the Rapper and positioning its product as "The Essential Cloud for AI."
On the strategic partnership front, CoreWeave is moving forward with plans alongside NVIDIA to expand capacity, aiming for more than 5 gigawatts of capability by 2030. That plan is supported by a reported $2 billion equity investment. DA Davidson has reiterated a Buy rating with a $110 price target, reflecting confidence in the company’s growth trajectory tied to such capacity expansion.
However, research and market commentary also point to notable headwinds. InvestingPro flags rapid cash burn and short-term obligations that exceed liquid assets as challenges requiring attention. HSBC has signaled concern over rising borrowing costs, lowering its price target to $41 and maintaining a Reduce rating. That downgrade was linked in part to a roughly 250 basis point widening in CoreWeave’s credit default swaps, which implies higher interest expense and refinancing pressure.
There are knock-on effects for related businesses as well. Applied Blockchain, which has material exposure via a fully leased 400 MW capacity at the North Ellen campus to CoreWeave, received a Market Outperform rating from Citizens with a $40 price target. Market participants appear to be weighing CoreWeave’s growth backlog and commercial foothold against liquidity dynamics and financing costs ahead of the company’s upcoming earnings announcement.
What this filing indicates
- Management executed a pre-existing trading plan to sell a block of shares while retaining a substantial Class A stake.
- The conversion of Class B shares into Class A shares increases the pool of Class A stock held by entities associated with the CEO, as reported through Omnadora Capital LLC.
- CoreWeave’s near-term outlook remains subject to confirmation at the February 26 earnings release, with analysts’ stances and reported liquidity metrics providing contrasting signals.