Baker Avenue Asset Management LP Takes $279,000 Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• Baker Avenue Asset Management LP acquired a new stake in CrowdStrike, purchasing 791 shares valued at approximately $279,000.
• Insider activity saw Director Denis Oleary and CFO Burt W. Podbere sell a combined 31,680 shares of CrowdStrike stock, totaling over $14 million in sales.
• CrowdStrike's recent earnings report showed a 19.8% year-over-year revenue increase despite a negative net margin of 4.17% and an EPS of $0.73, exceeding estimates by $0.07.

Baker Avenue Asset Management LP acquired a new stake in CrowdStrike (NASDAQ:CRWD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 791 shares of the company's stock, valued at approximately $279,000.

A number of other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC raised its holdings in shares of CrowdStrike by 11.2% in the fourth quarter. FSA Wealth Management LLC now owns 228 shares of the company's stock valued at $78,000 after purchasing an additional 23 shares during the last quarter. Tradewinds Capital Management LLC raised its holdings in shares of 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 purchasing an additional 25 shares during the last quarter. Close Asset Management Ltd raised its holdings in shares of 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 purchasing an additional 25 shares during the last quarter. Ramirez Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 25 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 26 shares during the last quarter. 71.16% of the stock is owned by institutional investors.

Insider Activity at CrowdStrike

In other CrowdStrike news, Director Denis Oleary sold 15,680 shares of CrowdStrike stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the completion of the sale, the director directly owned 36,906 shares in the company, valued at $17,306,330.58. The trade was a 29.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Burt W. Podbere sold 16,000 shares of CrowdStrike stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the sale, the chief financial officer owned 249,653 shares of the company's stock, valued at approximately $109,068,402.64. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 235,570 shares of company stock valued at $110,581,672 in the last quarter. 3.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRWD shares. Bank of America reiterated a "neutral" rating and issued a $470.00 target price (up previously from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating and issued a $485.00 target price (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Evercore ISI reiterated an "in-line" rating and issued a $440.00 target price (down previously from $450.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Piper Sandler downgraded shares of CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 target price for the company. in a report on Monday, July 7th. Finally, Barclays set a $500.00 price objective on shares of CrowdStrike in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, CrowdStrike has a consensus rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD opened at $446.66 on Friday. The company has a 50 day moving average of $479.51 and a 200 day moving average of $422.89. The stock has a market cap of $111.33 billion, a P/E ratio of -647.33 and a beta of 1.13. CrowdStrike has a 12 month low of $200.81 and a 12 month 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.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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 negative net margin of 4.17% and a positive return on equity of 0.43%. CrowdStrike's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

CrowdStrike 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.

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