Correct Capital Wealth Management Trims Stake in CrowdStrike (NASDAQ:CRWD)

Correct Capital Wealth Management reduced its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 31.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,676 shares of the company's stock after selling 784 shares during the quarter. Correct Capital Wealth Management's holdings in CrowdStrike were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in shares of CrowdStrike in the 1st quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC lifted its position in CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 40 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its position in CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Sound Income Strategies LLC lifted its position in CrowdStrike by 77.6% during the 1st quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock worth $31,000 after acquiring an additional 38 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new stake in CrowdStrike during the 4th quarter worth about $34,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CrowdStrike

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $512.43, for a total value of $3,202,687.50. Following the sale, the director directly owned 781,011 shares in the company, valued at approximately $400,213,466.73. The trade was a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anurag Saha sold 1,768 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total value of $869,449.36. Following the completion of the transaction, the chief accounting officer owned 41,251 shares of the company's stock, valued at $20,286,004.27. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,821 shares of company stock worth $118,672,681. 3.32% of the stock is currently owned by company insiders.

CrowdStrike Trading Down 2.8%

NASDAQ:CRWD traded down $14.37 during mid-day trading on Thursday, hitting $499.14. The company had a trading volume of 132,324 shares, compared to its average volume of 4,759,055. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $124.41 billion, a P/E ratio of -726.42 and a beta of 1.16. The business's fifty day moving average is $468.34 and its two-hundred day moving average is $409.08. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 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 the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.93 EPS. The firm's revenue was up 19.8% compared to the same quarter last year. As a group, research analysts expect that CrowdStrike will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CRWD shares. The Goldman Sachs Group lifted their price target on CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley increased their target price on CrowdStrike from $455.00 to $490.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Royal Bank Of Canada raised their price target on CrowdStrike from $500.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Scotiabank upped their price objective on shares of CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $475.00 price target (up from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $453.88.

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.

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