Azimuth Capital Investment Management LLC Decreases Stake in CrowdStrike (NASDAQ:CRWD)

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in CrowdStrike by 2.2%, holding 30,991 shares valued at approximately $10.9 million at the end of the quarter.
• CrowdStrike's stock price recently opened at $424.86, with a market capitalization of $105.90 billion and a one-year price range of $242.25 to $517.98.
• Insider sales included CFO Burt Podbere selling 11,883 shares for approximately $5.4 million, indicating a 4.89% decrease in his ownership of the company.

Azimuth Capital Investment Management LLC reduced its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,991 shares of the company's stock after selling 685 shares during the period. Azimuth Capital Investment Management LLC's holdings in CrowdStrike were worth $10,927,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike in the 1st quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in shares of CrowdStrike in the 1st quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of CrowdStrike by 305.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of CrowdStrike in the 1st quarter worth approximately $30,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Down 1.7%

CrowdStrike stock opened at $424.86 on Friday. The stock has a market cap of $105.90 billion, a PE ratio of -615.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. CrowdStrike has a one year low of $242.25 and a one year high of $517.98. The stock has a fifty day moving average of $473.60 and a 200 day moving average of $426.66.

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

Analyst Ratings Changes

CRWD has been the topic of a number of recent analyst reports. DZ Bank lowered CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price objective on the stock. in a research report on Thursday, May 22nd. Jefferies Financial Group lifted their price objective on CrowdStrike from $520.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Oppenheimer lifted their price target on CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on CrowdStrike from $430.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Cfra restated a "hold" rating and set a $555.00 price target (up from $517.00) on shares of CrowdStrike in a research report on Thursday, July 10th. 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $461.17.

Insiders Place Their Bets

In other CrowdStrike news, CFO Burt W. Podbere sold 11,883 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total value of $5,412,350.01. Following the completion of the sale, the chief financial officer owned 231,130 shares in the company, valued at $105,272,781.10. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $447.09, for a total value of $2,794,312.50. Following the completion of the sale, the director owned 774,761 shares of the company's stock, valued at approximately $346,387,895.49. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 214,414 shares of company stock valued at $101,484,738. 3.32% of the stock is currently owned by corporate insiders.

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.

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