Avantax Advisory Services Inc. Purchases 1,265 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Avantax Advisory Services Inc. increased its stock position in CrowdStrike by 9.8%, now holding 14,138 shares valued at approximately $4.99 million.
• Several hedge funds, including Cloud Capital Management and Atlantic Edge Private Wealth Management, have also made new investments or increased their stakes in CrowdStrike in the 1st quarter.
• Analysts have raised their price targets for CrowdStrike, with several firms setting new targets around $530.00 and maintaining a consensus "Moderate Buy" rating.

Avantax Advisory Services Inc. grew its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,138 shares of the company's stock after acquiring an additional 1,265 shares during the period. Avantax Advisory Services Inc.'s holdings in CrowdStrike were worth $4,985,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Brookwood Investment Group LLC acquired a new stake in shares of CrowdStrike in the first quarter worth $949,000. Morling Financial Advisors LLC raised its position in shares of CrowdStrike by 3.3% during the first quarter. Morling Financial Advisors LLC now owns 1,121 shares of the company's stock valued at $395,000 after buying an additional 36 shares during the last quarter. Princeton Capital Management LLC lifted its stake in shares of CrowdStrike by 0.5% in the first quarter. Princeton Capital Management LLC now owns 36,051 shares of the company's stock valued at $12,711,000 after buying an additional 162 shares during the period. Principle Wealth Partners LLC lifted its position in shares of CrowdStrike by 7.7% in the 1st quarter. Principle Wealth Partners LLC now owns 697 shares of the company's stock worth $246,000 after acquiring an additional 50 shares during the period. Finally, Lifeworks Advisors LLC grew its holdings in shares of CrowdStrike by 10.0% during the 1st quarter. Lifeworks Advisors LLC now owns 1,057 shares of the company's stock worth $373,000 after purchasing an additional 96 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRWD shares. Mizuho raised their target price on CrowdStrike from $425.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Citigroup restated an "outperform" rating on shares of CrowdStrike in a research report on Monday, May 5th. Oppenheimer raised their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. DA Davidson raised their price objective on shares of CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Susquehanna upped their target price on shares of CrowdStrike from $425.00 to $530.00 and gave the company a "positive" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $461.17.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD traded down $3.41 on Wednesday, hitting $462.10. The company had a trading volume of 1,170,974 shares, compared to its average volume of 3,782,161. The stock has a market cap of $115.18 billion, a price-to-earnings ratio of -671.86 and a beta of 1.16. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $478.91 and a 200 day moving average price of $420.72.

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

Insider Activity

In other CrowdStrike news, Director Roxanne S. Austin sold 9,447 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 18,858 shares in the company, valued at approximately $9,667,553.70. This represents a 33.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $512.43, for a total transaction of $3,202,687.50. Following the transaction, the director owned 781,011 shares in the company, valued at $400,213,466.73. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,820 shares of company stock worth $113,297,985. 3.32% of the stock is owned by insiders.

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.