Form 4: Magnetar Financial Entities Divest CoreWeave Shares

Magnetar Financial entities sold 27,945 CoreWeave shares for $3.9M.

Summary

• Magnetar Financial LLC and related entities reported the sale of 27,945 shares of CoreWeave, Inc. Class A Common Stock.
• The transactions occurred on October 13, 2025, and were executed under a Rule 10b5-1 trading plan.
• The shares were sold at weighted average prices ranging from $140.15 to $143.26 per share.
• The total value of the shares sold is approximately $3,947,647.25.
• Following these transactions, Magnetar's affiliated funds (Purpose Alternative Credit Fund F LLC, Purpose Alternative Credit Fund T LLC, and Magnetar Longhorn Fund LP) collectively beneficially own 13,527,774 shares of CoreWeave Class A Common Stock.
• The reporting persons, including Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman, are identified as 10% owners and directors (or affiliated with directors) of CoreWeave.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a 10% owner and affiliated entities is generally perceived as a negative signal. However, the execution under a Rule 10b5-1 plan mitigates the immediate concern that the sale is based on new, adverse material non-public information.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates the transactions were scheduled in advance and not based on new material non-public information.

Negatives

• A significant institutional investor and 10% owner, Magnetar Financial LLC and its affiliates, reduced their stake in CoreWeave by selling 27,945 shares.
• The sale of shares by a major beneficial owner can be perceived by the market as a negative signal regarding future prospects or valuation.

Risks

• Potential negative market perception due to a significant beneficial owner reducing their stake.
• Implied risk of reduced institutional confidence, although mitigated by the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $140.00 to $140.25, inclusive. (Similar statements for other price ranges).
• The reporting person undertakes to provide to CoreWeave, Inc. (the 'Issuer'), any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and in footnotes 2 and 3.
• Each of the Magnetar Funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein.

Industry Context

This Form 4 filing provides specific insider transaction details and does not offer broader industry context or trends.

Stakeholder Impact

• Shareholders may interpret the sale by a major investor as a lack of confidence, potentially leading to negative sentiment or downward pressure on the stock price.

Key Dates

Recommendation

While the sale by a 10% owner is typically a negative indicator, the fact that it was executed under a pre-arranged Rule 10b5-1 plan suggests it is a scheduled liquidity event rather than a reaction to new adverse information. Investors should maintain their current position and monitor future company developments and insider activity.

Keywords

CoreWeave, CRWV, Magnetar Financial, Form 4, insider trading, stock sale, beneficial ownership, 10% owner, institutional investor, Rule 10b5-1