Charles Schwab Investment Management Inc. Raises Stock Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in CrowdStrike by 11.4% in the first quarter, owning 1,581,236 shares worth approximately $557.5 million.
• CrowdStrike reported a quarterly earnings per share (EPS) of $0.73, beating the consensus estimate of $0.66, even though its revenue fell short of expectations at $1.10 billion.
• Equity analysts have mixed views on CrowdStrike, with ratings ranging from "strong sell" to "outperform," and a consensus price target of $461.17 for the stock.

Charles Schwab Investment Management Inc. lifted its holdings in CrowdStrike (NASDAQ:CRWD - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,581,236 shares of the company's stock after purchasing an additional 162,161 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of CrowdStrike worth $557,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its position in CrowdStrike by 20.4% during the first quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock valued at $447,000 after acquiring an additional 215 shares during the last quarter. Primoris Wealth Advisors LLC purchased a new stake in CrowdStrike during the fourth quarter valued at $2,166,000. OLD National Bancorp IN purchased a new stake in CrowdStrike during the first quarter valued at $248,000. Bessemer Group Inc. increased its position in 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 acquiring an additional 98 shares during the last quarter. Finally, CX Institutional purchased a new stake in CrowdStrike during the first quarter valued at $175,000. Hedge funds and other institutional investors own 71.16% of the company's stock.

CrowdStrike Trading Down 0.1%

Shares of CrowdStrike stock traded down $0.51 on Friday, reaching $424.49. The company had a trading volume of 3,626,057 shares, compared to its average volume of 2,718,355. The firm has a market cap of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The firm's 50-day moving average price is $477.04 and its two-hundred day moving average price is $425.17. CrowdStrike has a 1 year low of $235.60 and a 1 year high of $517.98.

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

Insider Transactions at CrowdStrike

In other news, CFO Burt W. Podbere sold 11,883 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total value of $5,412,350.01. Following the sale, the chief financial officer directly owned 231,130 shares in the company, valued at approximately $105,272,781.10. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total value of $7,465,050.00. Following the completion of the sale, the director owned 18,858 shares in the company, valued at approximately $9,385,060.86. The trade was a 44.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 214,414 shares of company stock worth $101,484,738. 3.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on CRWD. Oppenheimer upped their price objective on CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. JMP Securities reissued a "market outperform" rating and set a $500.00 price target on shares of CrowdStrike in a report on Wednesday, June 4th. Morgan Stanley reissued an "equal weight" rating and set a $495.00 price target (up previously from $490.00) on shares of CrowdStrike in a report on Monday, July 14th. Needham & Company LLC boosted their price target on CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Westpark Capital reissued a "hold" rating on shares of CrowdStrike in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.