Nuveen LLC Acquires New Stake in CrowdStrike (NASDAQ:CRWD)

Key Points

• Nuveen LLC has acquired 1,689,733 shares of CrowdStrike, valued at approximately $595.77 million, increasing its ownership to around 0.68% of the company.
• The company's latest earnings report showed a 19.8% increase in revenue year-over-year, with earnings of $0.73 per share, beating the consensus estimate.
• Analysts have set new price targets for CrowdStrike, with several firms increasing their targets to as high as $530 per share and maintaining a "buy" rating.

Nuveen LLC bought a new position in CrowdStrike (NASDAQ:CRWD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,689,733 shares of the company's stock, valued at approximately $595,766,000. Nuveen LLC owned 0.68% of CrowdStrike at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CRWD. FSA Wealth Management LLC raised its stake in shares of CrowdStrike by 11.2% during the 4th quarter. FSA Wealth Management LLC now owns 228 shares of the company's stock worth $78,000 after acquiring an additional 23 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in CrowdStrike by 20.8% in the first quarter. Tradewinds Capital Management LLC now owns 145 shares of the company's stock valued at $51,000 after buying an additional 25 shares during the last quarter. Close Asset Management Ltd raised its stake in CrowdStrike by 23.8% in the first quarter. Close Asset Management Ltd now owns 130 shares of the company's stock valued at $46,000 after buying an additional 25 shares during the last quarter. Ramirez Asset Management Inc. raised its stake in CrowdStrike by 5.9% in the first quarter. Ramirez Asset Management Inc. now owns 450 shares of the company's stock valued at $159,000 after buying an additional 25 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in CrowdStrike by 0.9% in the first quarter. Stratos Wealth Advisors LLC now owns 2,983 shares of the company's stock valued at $1,052,000 after buying an additional 26 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CrowdStrike

In other news, Director Denis Oleary sold 15,680 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $468.93, for a total value of $7,352,822.40. Following the transaction, the director owned 36,906 shares of the company's stock, valued at $17,306,330.58. This represents a 29.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 15,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total value of $7,465,050.00. Following the completion of the transaction, the director directly owned 18,858 shares in the company, valued at approximately $9,385,060.86. This trade represents a 44.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,414 shares of company stock valued at $101,484,738 in the last three months. Company insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CRWD shares. DA Davidson increased their price target on CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Roth Capital increased their price target on CrowdStrike from $410.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald increased their price target on CrowdStrike from $440.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Bank of America reiterated a "neutral" rating and issued a $470.00 price target (up from $420.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $495.00 price target (up from $490.00) on shares of CrowdStrike in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has an average rating of "Moderate Buy" and a consensus target price of $461.17.

CrowdStrike Trading Down 0.1%

NASDAQ CRWD traded down $0.51 on Friday, reaching $424.49. 3,626,057 shares of the company were exchanged, compared to its average volume of 2,730,743. The business's fifty day moving average price is $477.04 and its 200 day moving average price is $425.84. The stock has a market capitalization of $105.80 billion, a P/E ratio of -615.20 and a beta of 1.13. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a fifty-two week low of $235.60 and a fifty-two week high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The firm's revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.