Altimeter Capital Management LP Makes New $230.10 Million Investment in CoreWeave Inc. $CRWV

Key Points

• Altimeter Capital Management disclosed a new position in CoreWeave, buying 3.21 million shares worth about $230.1 million in the fourth quarter. The stake represents 3.5% of Altimeter’s portfolio and about 0.83% of CoreWeave.
• CoreWeave continues to attract attention from other institutions and analysts, with several firms adding shares and Wall Street maintaining a Moderate Buy consensus. The average price target currently stands at $131.52.
• Despite strong revenue growth of 111.6% year over year in the latest quarter, CoreWeave missed EPS estimates and remains unprofitable. The stock also faces scrutiny over insider selling, heavy capex, and valuation concerns.

Altimeter Capital Management LP acquired a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,213,230 shares of the company's stock, valued at approximately $230,099,000. CoreWeave makes up 3.5% of Altimeter Capital Management LP's holdings, making the stock its 9th biggest holding. Altimeter Capital Management LP owned 0.83% of CoreWeave at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CRWV. Altshuler Shaham Ltd raised its stake in shares of CoreWeave by 9,369.1% in the 4th quarter. Altshuler Shaham Ltd now owns 2,010,676 shares of the company's stock valued at $143,985,000 after purchasing an additional 1,989,442 shares in the last quarter. Freestone Grove Partners LP bought a new position in CoreWeave during the 4th quarter worth approximately $281,000. Guggenheim Capital LLC acquired a new position in shares of CoreWeave in the 4th quarter worth approximately $695,000. Polar Asset Management Partners Inc. acquired a new position in shares of CoreWeave in the 4th quarter worth approximately $1,933,000. Finally, Aequim Alternative Investments LP acquired a new position in shares of CoreWeave in the 4th quarter worth approximately $5,846,000.

Key CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave’s inclusion in the Nasdaq-100 is expected to drive passive fund buying and has reinforced bullish momentum in the stock. CoreWeave (CRWV) to Join Nasdaq-100, Soars 9.67%
• Positive Sentiment: Analysts and commentary from Cantor Fitzgerald suggest CoreWeave could beat expectations on second-quarter backlog, supporting the view that demand for its AI infrastructure remains strong. CoreWeave Insider Sales Look Big, But Should Investors Worry?
• Positive Sentiment: CoreWeave also announced record MLPerf training results, including very fast DeepSeek-V3 training on its infrastructure, which may bolster its credibility as a leading AI cloud provider. CoreWeave Sets New AI Training Records in MLPerf® Training v6.0, Training DeepSeek-V3 in Approximately Two Minutes
• Neutral Sentiment: Some coverage argues the stock is already richly valued and points to heavy capex and operating expenses, which could limit upside if growth slows. CoreWeave: Pressured By Both Opex And Capex
• Negative Sentiment: Recent short-seller warnings and articles comparing today’s AI spending boom to past bubbles have raised caution across the AI infrastructure group, including CoreWeave. Legendary Short Seller Jim Chanos Issues Dire Prediction: “We Have the Same Setup” As the Dot-Com Crash. Here's How the AI Bull Market Ends
• Negative Sentiment: Insider selling has also drawn attention, especially the large dollar value of founder and executive sales, even though they were made under prearranged 10b5-1 plans. CoreWeave Insider Sales Look Big, But Should Investors Worry?

CoreWeave Price Performance

NASDAQ CRWV opened at $115.21 on Thursday. CoreWeave Inc. has a 52 week low of $63.80 and a 52 week high of $187.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock has a market cap of $51.56 billion, a price-to-earnings ratio of -37.04 and a beta of 7.14. The company has a 50-day moving average price of $109.72 and a two-hundred day moving average price of $93.38.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $2.08 billion during the quarter. During the same period last year, the business posted ($0.60) EPS. The company's revenue was up 111.6% compared to the same quarter last year. Analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of CoreWeave in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Mizuho boosted their price objective on shares of CoreWeave from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $135.00 price objective on shares of CoreWeave in a research report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Twenty research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.52.

Insiders Place Their Bets

In other news, insider Brian M. Venturo sold 1,125,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $80.86, for a total value of $90,967,500.00. Following the completion of the transaction, the insider directly owned 285,327 shares in the company, valued at $23,071,541.22. This trade represents a 79.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider owned 282,570 shares of the company's stock, valued at $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,628,694 shares of company stock worth $3,125,766,052.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.

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