Belvedere Trading LLC Buys Shares of 1,194 CrowdStrike (NASDAQ:CRWD)

Key Points

• Belvedere Trading LLC acquired a new stake in CrowdStrike shares, purchasing 1,194 shares valued at approximately $421,000 in the first quarter.
• Insider activity at CrowdStrike shows significant sales, with directors selling a combined 30,680 shares recently, indicating a decrease in their positions.
• CrowdStrike's stock price has seen a recent increase of 2.3%, and analysts have raised price targets, with Goldman Sachs setting a new target of $530.00.

Belvedere Trading LLC bought a new stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,194 shares of the company's stock, valued at approximately $421,000.

A number of other institutional investors have also recently modified their holdings of the business. Ontario Teachers Pension Plan Board acquired a new stake in CrowdStrike in the 1st quarter worth about $595,000. Chicago Partners Investment Group LLC boosted its holdings in CrowdStrike by 5.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 3,252 shares of the company's stock worth $1,147,000 after buying an additional 182 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CrowdStrike by 11.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,581,236 shares of the company's stock worth $557,512,000 after buying an additional 162,161 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in CrowdStrike in the 1st quarter worth about $5,570,000. Finally, Tidemark LLC boosted its holdings in CrowdStrike by 10.2% in the 1st quarter. Tidemark LLC now owns 721 shares of the company's stock worth $254,000 after buying an additional 67 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cfra reiterated a "hold" rating and issued a $555.00 price objective (up from $517.00) on shares of CrowdStrike in a report on Thursday, July 10th. Needham & Company LLC raised their target price on shares of CrowdStrike from $420.00 to $530.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Oppenheimer raised their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. BMO Capital Markets raised their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group raised their target price on shares of CrowdStrike from $389.00 to $530.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $461.17.

Insiders Place Their Bets

In related news, Director Roxanne S. Austin sold 9,447 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the completion of the transaction, the director directly owned 18,858 shares of the company's stock, valued at $9,667,553.70. This represents a 33.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $447.09, for a total transaction of $2,794,312.50. Following the transaction, the director directly owned 774,761 shares of the company's stock, valued at $346,387,895.49. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,414 shares of company stock valued at $101,484,738. 3.32% of the stock is owned by insiders.

CrowdStrike Stock Down 0.1%

Shares of CRWD stock traded down $0.51 on Friday, reaching $424.49. 3,626,057 shares of the stock were exchanged, compared to its average volume of 2,718,355. 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 business's 50 day moving average price is $477.04 and its 200 day moving average price is $425.50. The company has a market capitalization of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. CrowdStrike has a twelve month low of $235.60 and a twelve month high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly 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. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned $0.93 earnings per share. CrowdStrike's quarterly revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

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.