Carnegie Investment Counsel Raises Stock Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• Carnegie Investment Counsel increased its stake in CrowdStrike by 6.4%, acquiring an additional 1,252 shares, bringing its total ownership to 20,947 shares, valued at approximately $6.79 million.
• Insider selling has been notable, with President Michael Sentonas selling 25,000 shares for about $11.93 million and CEO George Kurtz selling 55,556 shares for nearly $24.86 million, indicating a slight decrease in their positions.
• CrowdStrike's recent earnings report showed a 19.8% year-over-year revenue increase with an EPS of $0.73, exceeding analyst expectations by $0.07, despite a negative net margin of 4.17%.

Carnegie Investment Counsel grew its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,947 shares of the company's stock after acquiring an additional 1,252 shares during the period. Carnegie Investment Counsel's holdings in CrowdStrike were worth $6,794,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRWD. Jennison Associates LLC grew its stake in CrowdStrike by 21.1% in the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock worth $2,314,785,000 after acquiring an additional 1,144,295 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after acquiring an additional 124,984 shares in the last quarter. Norges Bank acquired a new position in shares of CrowdStrike during the 4th quarter valued at $1,111,542,000. Northern Trust Corp lifted its holdings in shares of CrowdStrike by 16.6% during the 4th quarter. Northern Trust Corp now owns 2,271,722 shares of the company's stock valued at $777,292,000 after acquiring an additional 324,136 shares in the last quarter. Finally, FMR LLC lifted its holdings in CrowdStrike by 15.0% in the 4th quarter. FMR LLC now owns 2,204,171 shares of the company's stock worth $754,179,000 after buying an additional 287,960 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRWD. Mizuho boosted their target price on shares of CrowdStrike from $425.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada upped their target price 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. The Goldman Sachs Group upped their price target 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. Wedbush increased their target price on shares of CrowdStrike from $475.00 to $525.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Finally, Raymond James Financial reissued an "outperform" rating and set a $485.00 target price (up from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $461.17.

CrowdStrike Price Performance

CrowdStrike stock traded up $3.38 during mid-day trading on Monday, hitting $471.30. 712,165 shares of the company traded hands, compared to its average volume of 3,800,244. CrowdStrike has a one year low of $200.81 and a one year high of $517.98. The stock has a market cap of $117.47 billion, a price-to-earnings ratio of -682.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a fifty day moving average price of $477.89 and a 200-day moving average price of $419.54.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.93 earnings per share. CrowdStrike's revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CAO Anurag Saha sold 1,768 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total value of $869,449.36. Following the completion of the sale, the chief accounting officer directly owned 41,251 shares in the company, valued at approximately $20,286,004.27. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Johanna Flower sold 2,073 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $474.21, for a total transaction of $983,037.33. Following the completion of the sale, the director owned 81,383 shares of the company's stock, valued at approximately $38,592,632.43. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,820 shares of company stock valued at $113,297,985 over the last quarter. Company insiders own 3.32% of the company's stock.

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.