Allspring Global Investments Holdings LLC Cuts Holdings in CrowdStrike (NASDAQ:CRWD)

Allspring Global Investments Holdings LLC lowered its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,439 shares of the company's stock after selling 16,314 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in CrowdStrike were worth $20,452,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CRWD. Blue Trust Inc. increased its position in shares of CrowdStrike by 20.4% during the first quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock valued at $447,000 after purchasing an additional 215 shares during the period. Primoris Wealth Advisors LLC acquired a new position in CrowdStrike in the fourth quarter worth about $2,166,000. OLD National Bancorp IN bought a new position in CrowdStrike during the first quarter worth about $248,000. Bessemer Group Inc. lifted its stake in CrowdStrike by 4.6% during the first quarter. Bessemer Group Inc. now owns 2,221 shares of the company's stock worth $783,000 after purchasing an additional 98 shares during the period. Finally, Financial Engines Advisors L.L.C. bought a new stake in shares of CrowdStrike in the 4th quarter valued at approximately $284,000. Institutional investors and hedge funds own 71.16% of the company's stock.

Insiders Place Their Bets

In related news, Director Roxanne S. Austin sold 9,447 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the sale, the director directly owned 18,858 shares in the company, valued at approximately $9,667,553.70. The trade was a 33.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 17,525 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $477.62, for a total value of $8,370,290.50. Following the completion of the transaction, the chief executive officer owned 2,175,154 shares of the company's stock, valued at approximately $1,038,897,053.48. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,821 shares of company stock worth $117,495,993 in the last ninety days. 3.32% of the stock is owned by corporate insiders.

CrowdStrike Trading Up 3.4%

Shares of NASDAQ:CRWD traded up $17.02 during mid-day trading on Thursday, hitting $513.12. The company had a trading volume of 1,552,079 shares, compared to its average volume of 3,947,193. The firm has a fifty day moving average price of $459.69 and a 200 day moving average price of $404.06. CrowdStrike has a one year low of $200.81 and a one year high of $517.98. The company has a market capitalization of $127.89 billion, a PE ratio of -743.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating 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 company's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. As a group, research analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRWD shares. Morgan Stanley upped their target price on shares of CrowdStrike from $455.00 to $490.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Barclays set a $500.00 price objective on shares of CrowdStrike in a research report on Tuesday, June 3rd. Royal Bank Of Canada boosted their price objective on shares of CrowdStrike from $500.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Jefferies Financial Group upped their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, DZ Bank lowered shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price objective on the stock. in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $453.88.

CrowdStrike Company Profile

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.