Commerce Bank Sells 1,535 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Commerce Bank reduced its stake in CrowdStrike by 1.7% in the first quarter, holding 90,513 shares worth approximately $31.9 million after selling 1,535 shares.
• Numerous large investors, including Jennison Associates and Northern Trust Corp, have increased their holdings in CrowdStrike, with institutional investors now owning 71.16% of the stock.
• CrowdStrike experienced a year-over-year revenue growth of 19.8%, reporting $1.1 billion for the quarter, while earnings per share (EPS) beat estimates at $0.73.

Commerce Bank decreased its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,513 shares of the company's stock after selling 1,535 shares during the period. Commerce Bank's holdings in CrowdStrike were worth $31,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRWD. Blue Trust Inc. raised 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 purchasing an additional 215 shares in the last quarter. Primoris Wealth Advisors LLC bought a new stake in shares of CrowdStrike during the 4th quarter worth $2,166,000. OLD National Bancorp IN acquired a new stake in CrowdStrike in the first quarter valued at about $248,000. Bessemer Group Inc. grew its position in CrowdStrike by 4.6% in 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 acquired a new position in CrowdStrike during the first quarter worth about $175,000. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Stock Performance

Shares of CRWD stock traded down $7.91 on Friday, hitting $446.66. 3,012,444 shares of the stock were exchanged, compared to its average volume of 2,504,503. CrowdStrike has a one year low of $200.81 and a one year high of $517.98. The firm's 50 day moving average is $479.51 and its two-hundred day moving average is $422.89. The firm has a market capitalization of $111.33 billion, a PE ratio of -647.33 and a beta of 1.13. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company's revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. Sell-side analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, Director Denis Oleary sold 15,680 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the sale, the director directly owned 36,906 shares in the company, valued at $17,306,330.58. This represents a 29.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO George Kurtz sold 55,556 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the completion of the transaction, the chief executive officer owned 2,192,610 shares of the company's stock, valued at $981,280,679.40. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,570 shares of company stock valued at $110,581,672. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRWD shares. The Goldman Sachs Group raised their target price on shares of CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. DA Davidson raised their price objective on shares of CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Stephens boosted their target price on shares of CrowdStrike from $450.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. BTIG Research restated a "buy" rating on shares of CrowdStrike in a research report on Thursday, May 22nd. Finally, Rosenblatt Securities increased their price objective on CrowdStrike from $450.00 to $515.00 and gave the company a "buy" rating in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $461.17.

About CrowdStrike

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.