Cary Street Partners Financial LLC Sells 1,255 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Cary Street Partners Financial LLC reduced its stake in CrowdStrike by 13.7%, selling 1,255 shares during the first quarter, resulting in holdings valued at approximately $2.78 million.
• CrowdStrike reported earnings per share (EPS) of $0.73 for the recent quarter, exceeding expectations, but its revenue was slightly below analyst forecasts at $1.10 billion.
• Analysts have varying ratings on CrowdStrike, with one firm raising its price target to $540, while another downgraded the stock to a strong sell with a target price of $370.

Cary Street Partners Financial LLC trimmed its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,898 shares of the company's stock after selling 1,255 shares during the quarter. Cary Street Partners Financial LLC's holdings in CrowdStrike were worth $2,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CRWD. Blue Trust Inc. grew its stake in shares of CrowdStrike by 20.4% in the first quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock worth $447,000 after purchasing an additional 215 shares during the last quarter. Primoris Wealth Advisors LLC purchased a new stake in CrowdStrike in the 4th quarter worth approximately $2,166,000. OLD National Bancorp IN bought a new stake in shares of CrowdStrike in the 1st quarter worth approximately $248,000. Bessemer Group Inc. increased its stake in shares of CrowdStrike by 4.6% during the first quarter. Bessemer Group Inc. now owns 2,221 shares of the company's stock valued at $783,000 after buying an additional 98 shares during the period. Finally, CX Institutional bought a new position in shares of CrowdStrike during the first quarter valued at approximately $175,000. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $451.69 on Thursday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $478.55 and a 200-day moving average price of $424.30. CrowdStrike has a 52 week low of $229.72 and a 52 week high of $517.98. The firm has a market capitalization of $112.58 billion, a PE ratio of -654.62 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the company posted $0.93 earnings per share. The firm's quarterly revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts expect that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Transactions at CrowdStrike

In related news, CEO George Kurtz sold 42,267 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $450.47, for a total transaction of $19,040,015.49. Following the completion of the sale, the chief executive officer owned 2,132,887 shares in the company, valued at approximately $960,801,606.89. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Sentonas sold 25,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total value of $11,925,000.00. Following the completion of the transaction, the president directly owned 422,204 shares in the company, valued at approximately $201,391,308. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,414 shares of company stock worth $101,484,738. Company insiders own 3.32% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CRWD. Stephens lifted their price target on shares of CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. DZ Bank lowered shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 target price on the stock. in a research note on Thursday, May 22nd. Jefferies Financial Group boosted their price target on shares of CrowdStrike from $520.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $500.00 price objective on shares of CrowdStrike in a research report on Wednesday, June 4th. One 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 company. According to MarketBeat.com, CrowdStrike currently has an average rating of "Moderate Buy" and an average target price of $461.17.

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.

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