Channel Wealth LLC Takes $222,000 Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Channel Wealth LLC bought a new position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 630 shares of the company's stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock worth $2,670,000 after acquiring an additional 2,417 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of CrowdStrike by 12.2% in the 4th quarter. DAVENPORT & Co LLC now owns 2,668 shares of the company's stock worth $913,000 after purchasing an additional 291 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of CrowdStrike in the fourth quarter worth $242,000. Trust Point Inc. purchased a new position in shares of CrowdStrike in the fourth quarter worth $455,000. Finally, Mather Group LLC. lifted its holdings in shares of CrowdStrike by 32.5% during the fourth quarter. Mather Group LLC. now owns 657 shares of the company's stock valued at $225,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 71.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BMO Capital Markets lifted their price objective on CrowdStrike from $405.00 to $500.00 and gave the stock an "outperform" rating in a report on Wednesday. Stephens upped their price objective on CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday. Mizuho raised their target price on CrowdStrike from $425.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday. Oppenheimer boosted their price target on CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Roth Capital increased their price objective on shares of CrowdStrike from $410.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $449.38.

Insider Activity

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $484.59, for a total value of $3,028,687.50. Following the completion of the transaction, the director now directly owns 755,592 shares of the company's stock, valued at $366,152,327.28. This trade represents a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerhard Watzinger sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the completion of the sale, the director now owns 29,500 shares in the company, valued at approximately $14,425,500. This trade represents a 25.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,681 shares of company stock worth $87,081,236. 3.32% of the stock is currently owned by insiders.

CrowdStrike Price Performance

CRWD stock traded up $2.38 during mid-day trading on Thursday, hitting $462.94. The company had a trading volume of 6,174,926 shares, compared to its average volume of 5,115,577. The company has a 50-day moving average price of $410.85 and a 200 day moving average price of $386.40. CrowdStrike Holdings, Inc. has a 12-month low of $200.81 and a 12-month high of $491.20. The company has a market capitalization of $114.75 billion, a price-to-earnings ratio of 907.74, a P/E/G ratio of 17.86 and a beta of 1.22. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm's revenue for the quarter was up 19.8% on a year-over-year basis. On average, research analysts anticipate that CrowdStrike Holdings, Inc. will post 0.55 earnings per share 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.