CrowdStrike $CRWD Shares Sold by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC reduced its CrowdStrike stake by 55.4% in Q3, selling 2,929 shares and retaining 2,361 shares worth about $1.16 million at quarter-end.
• There was heavy institutional activity: Laurel Wealth Advisors dramatically increased to 4,293,484 shares (~$2.19B), Norges Bank opened a ~$1.64B stake, Vanguard holds 23.43M shares (~$11.93B), and institutions now own 71.16% of the stock.
• Insiders have been net sellers—90,024 shares worth $40.4M were sold in the past 90 days (including December sales by the CAO and President)—and the stock was recently down 4.1%, opening at $423.84 with a 52-week range of $298.00–$566.90.

Elevation Point Wealth Partners LLC lessened its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 55.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,361 shares of the company's stock after selling 2,929 shares during the period. Elevation Point Wealth Partners LLC's holdings in CrowdStrike were worth $1,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC boosted its holdings in CrowdStrike by 54,635.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,293,484 shares of the company's stock worth $2,186,714,000 after buying an additional 4,285,640 shares in the last quarter. Norges Bank acquired a new stake in CrowdStrike during the second quarter valued at $1,638,365,000. Vestor Capital LLC increased its holdings in CrowdStrike by 269,840.3% in the second quarter. Vestor Capital LLC now owns 977,184 shares of the company's stock valued at $497,690,000 after buying an additional 976,822 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CrowdStrike by 2.6% in the second quarter. Vanguard Group Inc. now owns 23,430,572 shares of the company's stock worth $11,933,425,000 after acquiring an additional 596,007 shares during the period. Finally, First Trust Advisors LP raised its position in shares of CrowdStrike by 19.9% in the third quarter. First Trust Advisors LP now owns 2,599,902 shares of the company's stock worth $1,274,940,000 after acquiring an additional 431,382 shares during the period. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Stock Down 4.1%

Shares of CRWD opened at $423.84 on Tuesday. CrowdStrike has a 52-week low of $298.00 and a 52-week high of $566.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $427.97 and a two-hundred day simple moving average of $469.88. The company has a market capitalization of $107.49 billion, a PE ratio of -572.75, a price-to-earnings-growth ratio of 19.38 and a beta of 1.07.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. CrowdStrike had a negative net margin of 3.81% and a negative return on equity of 0.14%. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company's revenue was up 23.8% compared to the same quarter last year. As a group, equities analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CRWD. DA Davidson raised their target price on CrowdStrike from $425.00 to $455.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Sanford C. Bernstein upped their price target on CrowdStrike from $353.00 to $368.00 and gave the stock a "market perform" rating in a report on Wednesday, March 4th. Oppenheimer lowered their price target on CrowdStrike from $580.00 to $500.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $520.00 price objective on shares of CrowdStrike in a report on Wednesday, March 4th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CrowdStrike currently has a consensus rating of "Moderate Buy" and a consensus target price of $506.26.

Insider Buying and Selling

In other news, CAO Anurag Saha sold 1,530 shares of the firm's stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $479.78, for a total transaction of $734,063.40. Following the completion of the sale, the chief accounting officer owned 44,562 shares in the company, valued at $21,379,956.36. This trade represents a 3.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael Sentonas sold 11,461 shares of CrowdStrike stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $479.78, for a total transaction of $5,498,758.58. Following the sale, the president directly owned 342,655 shares in the company, valued at approximately $164,399,015.90. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 90,024 shares of company stock worth $40,424,241 over the last ninety days. 3.32% of the stock is currently owned by insiders.

About CrowdStrike

CrowdStrike Holdings, Inc NASDAQ: CRWD is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company's core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.

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