Form 4: Magnetar Funds Divest Over 464K CoreWeave Shares

Magnetar Financial and its affiliated funds, a 10% owner and director, sold 464,169 shares of CoreWeave Class A Common Stock on October 29, 2025, for approximately $64 million.

Summary

• Magnetar Financial LLC, along with Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman, reported the sale of CoreWeave, Inc. Class A Common Stock.
• The reporting persons are identified as 10% owners and directors of CoreWeave, Inc.
• A total of 464,169 shares of Class A Common Stock were disposed of across multiple transactions on October 29, 2025.
• The sales were executed at weighted average prices ranging from $136.71 to $139.71 per share.
• The transactions were made pursuant to a Rule 10b5-1(c) pre-planned contract, instruction, or written plan.
• Following these transactions, the Magnetar Funds collectively beneficially own 25,828,606 shares of Class A Common Stock.
• The total value of the shares sold is approximately $64,055,322 based on an average price of $138.00 per share.

Sentiment

Score: 4

Explanation: While the sale was pre-planned under a 10b5-1 plan, a significant reduction in holdings by a 10% owner and director can still be viewed with slight caution by the market, even if not indicative of fundamental issues.

Negatives

• A significant sale of shares by a 10% owner and director, even if pre-planned, can sometimes be perceived negatively by the market as it reduces insider ownership.

Risks

• The market may interpret a large insider sale as a signal of reduced confidence, potentially leading to downward pressure on the stock price.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding CoreWeave's future performance or strategic direction.

Management Comments

• Magnetar Financial LLC serves as the investment adviser to Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund F LLC, Purpose Alternative Credit Fund T LLC, and the general partner of Magnetar Structured Credit Fund, LP.
• Magnetar Capital Partners LP is the sole member and parent holding company of Magnetar Financial, with Supernova Management LLC as the general partner of Magnetar Capital Partners.
• David J. Snyderman is the administrative manager of Supernova Management LLC.
• 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 reports an insider transaction and does not contain information directly related to broader industry trends or competitive analysis for CoreWeave, Inc.

Related Party Transactions

• The sale of Class A Common Stock by Magnetar Financial LLC and its affiliated funds constitutes a related party transaction, as these entities are identified as 10% owners and directors of CoreWeave, Inc.

Stakeholder Impact

• Shareholders may react to the news of a significant insider sale, potentially influencing market sentiment and stock price.

Key Dates

Recommendation

The sale by Magnetar Financial and its affiliates, while substantial, was conducted under a pre-arranged 10b5-1 plan, which suggests it's a scheduled diversification or liquidity event rather than a reaction to new negative information. Investors should monitor future insider activity and company performance, but this filing alone does not warrant a strong buy or sell recommendation. A 'hold' position is prudent to assess further developments.

Keywords

CoreWeave, CRWV, Magnetar Financial, Insider Sale, Form 4, Beneficial Ownership, 10b5-1 Plan, Equity Transaction