Commonwealth Equity Services LLC Cuts Stake in CrowdStrike (NASDAQ:CRWD)

Key Points

• Commonwealth Equity Services LLC has reduced its stake in CrowdStrike by 2.9%, owning approximately $65 million worth of shares.
• Insiders have sold a total of 154,014 shares of CrowdStrike stock, raising over $74 million in the last three months, leading to a decrease in their ownership percentage.
• CrowdStrike's last earnings report showed a 19.8% year-over-year revenue increase despite a negative net margin, with a quarterly revenue of $1.10 billion.

Commonwealth Equity Services LLC lessened its holdings in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 185,451 shares of the company's stock after selling 5,555 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of CrowdStrike worth $65,386,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in CrowdStrike by 21.1% in the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock worth $2,314,785,000 after acquiring an additional 1,144,295 shares during the period. GAMMA Investing LLC boosted its position in CrowdStrike by 50,536.2% during the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock worth $383,132,000 after acquiring an additional 1,084,506 shares during the period. Pathstone Holdings LLC boosted its position in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock worth $440,116,000 after acquiring an additional 1,017,678 shares during the period. Voya Investment Management LLC raised its stake in shares of CrowdStrike by 43.5% during the 4th quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company's stock worth $657,106,000 after purchasing an additional 582,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of CrowdStrike during the 1st quarter worth about $188,050,000. Institutional investors and hedge funds own 71.16% of the company's stock.

Insider Transactions at CrowdStrike

In related news, CEO George Kurtz sold 17,525 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $477.62, for a total value of $8,370,290.50. Following the completion of the transaction, the chief executive officer owned 2,175,154 shares of the company's stock, valued at approximately $1,038,897,053.48. This trade represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Burt W. Podbere sold 10,714 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $469.49, for a total transaction of $5,030,115.86. Following the completion of the sale, the chief financial officer directly owned 239,008 shares of the company's stock, valued at approximately $112,211,865.92. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,264 shares of company stock worth $77,032,372 in the last quarter. Company insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRWD shares. Susquehanna raised their price target on CrowdStrike from $425.00 to $530.00 and gave the stock a "positive" rating in a research note on Wednesday, June 4th. Scotiabank raised their price target on CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada lifted their price target on CrowdStrike from $500.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Truist Financial restated a "buy" rating and set a $500.00 price objective (up from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Finally, Piper Sandler lowered CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price target on the stock. in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $461.17.

CrowdStrike Stock Up 1.2%

CrowdStrike stock traded up $5.11 during trading hours on Wednesday, hitting $446.86. 591,131 shares of the stock traded hands, compared to its average volume of 3,738,071. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average price is $478.89 and its two-hundred day moving average price is $424.11. CrowdStrike has a one year low of $229.72 and a one year high of $517.98. The company has a market cap of $111.38 billion, a PE ratio of -647.06 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced 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 positive return on equity of 0.43% and a negative net margin of 4.17%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the firm posted $0.93 earnings per share. The business's revenue for the quarter was up 19.8% on a year-over-year basis. On average, 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.