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

Several other hedge funds have also recently bought and sold shares of CRWD. Jennison Associates LLC increased its stake in CrowdStrike by 21.1% in the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after acquiring an additional 1,144,295 shares during the last quarter. GAMMA Investing LLC increased its stake in CrowdStrike by 50,536.2% in the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock valued at $383,132,000 after acquiring an additional 1,084,506 shares during the last quarter. Pathstone Holdings LLC increased its stake in CrowdStrike by 379.0% in the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after acquiring an additional 1,017,678 shares during the last quarter. Voya Investment Management LLC increased its stake in CrowdStrike by 43.5% in the fourth quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company's stock valued at $657,106,000 after acquiring an additional 582,471 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in CrowdStrike in the first quarter valued at approximately $188,050,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Sanford C. Bernstein cut shares of CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price on the stock. in a research note on Friday, June 6th. Susquehanna boosted their target price on shares of CrowdStrike from $425.00 to $530.00 and gave the stock a "positive" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald boosted their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, Truist Financial reaffirmed a "buy" rating and set a $500.00 target price (up previously from $450.00) 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 issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has an average rating of "Moderate Buy" and a consensus target price of $461.17.

Insider Activity

In other news, Director Denis Oleary sold 15,680 shares of the 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 transaction, the director directly owned 36,906 shares of the company's stock, valued at $17,306,330.58. This represents a 29.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurtz sold 42,267 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,132,887 shares of the company's stock, valued at approximately $960,801,606.89. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,414 shares of company stock worth $101,484,738. 3.32% of the stock is owned by insiders.

CrowdStrike Stock Down 0.1%

CRWD stock traded down $0.51 during trading on Friday, reaching $424.49. The stock had a trading volume of 3,626,057 shares, compared to its average volume of 2,718,355. CrowdStrike has a one year low of $235.60 and a one year high of $517.98. 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's 50 day moving average is $477.04 and its two-hundred day moving average 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 (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.93 EPS. The firm's quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts forecast that CrowdStrike will post 0.55 EPS for the current 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.