Convergence Financial LLC Acquires Shares of 958 CrowdStrike (NASDAQ:CRWD)

Convergence Financial LLC acquired a new stake in CrowdStrike (NASDAQ:CRWD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 958 shares of the company's stock, valued at approximately $338,000.

Several other large investors also recently added to or reduced their stakes in CRWD. Vanguard Group Inc. boosted its holdings in shares of CrowdStrike by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company's stock valued at $7,502,204,000 after purchasing an additional 342,294 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CrowdStrike by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock worth $1,712,063,000 after buying an additional 124,984 shares during the period. Norges Bank purchased a new stake in shares of CrowdStrike in the 4th quarter worth $1,111,542,000. Northern Trust Corp lifted its holdings in shares of CrowdStrike by 16.6% in the 4th quarter. Northern Trust Corp now owns 2,271,722 shares of the company's stock worth $777,292,000 after buying an additional 324,136 shares during the period. Finally, FMR LLC lifted its holdings in shares of CrowdStrike by 15.0% in the 4th quarter. FMR LLC now owns 2,204,171 shares of the company's stock worth $754,179,000 after buying an additional 287,960 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Trading Down 1.2%

Shares of NASDAQ:CRWD opened at $499.33 on Friday. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $506.35. 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 stock has a market cap of $124.46 billion, a price-to-earnings ratio of -723.67 and a beta of 1.16. The business has a 50-day moving average price of $452.08 and a 200-day moving average price of $401.56.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $1.11 billion. During the same period in the previous year, the business posted $0.93 EPS. The business's quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts predict that CrowdStrike will post 0.55 EPS for the current year.

Insider Buying and Selling

In other news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $324.16, for a total transaction of $2,026,000.00. Following the completion of the transaction, the director now directly owns 768,092 shares of the company's stock, valued at $248,984,702.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anurag Saha sold 2,227 shares of CrowdStrike stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $471.20, for a total transaction of $1,049,362.40. Following the completion of the transaction, the chief accounting officer now directly owns 43,019 shares of the company's stock, valued at $20,270,552.80. The trade was a 4.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,821 shares of company stock valued at $115,966,659 over the last 90 days. Insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $485.00 price objective (up from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Wells Fargo & Company upped their price target on shares of CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. DA Davidson upped their price target on shares of CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group restated a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Finally, BTIG Research restated a "buy" rating on shares of CrowdStrike in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $453.88.

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.

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