Adell Harriman & Carpenter Inc. Acquires 1,020 Shares of CrowdStrike (NASDAQ:CRWD)

Adell Harriman & Carpenter Inc. grew its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 2.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 37,072 shares of the company's stock after purchasing an additional 1,020 shares during the period. CrowdStrike comprises approximately 1.0% of Adell Harriman & Carpenter Inc.'s portfolio, making the stock its 27th biggest position. Adell Harriman & Carpenter Inc.'s holdings in CrowdStrike were worth $13,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in shares of CrowdStrike by 6.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,157 shares of the company's stock worth $2,524,000 after buying an additional 421 shares during the last quarter. HM Payson & Co. boosted its stake in shares of CrowdStrike by 16.6% in the 1st quarter. HM Payson & Co. now owns 764 shares of the company's stock worth $269,000 after buying an additional 109 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CrowdStrike by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,662,235 shares of the company's stock worth $586,070,000 after buying an additional 29,907 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of CrowdStrike in the 1st quarter worth approximately $63,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of CrowdStrike in the 1st quarter worth approximately $48,000. 71.16% of the stock is owned by institutional investors.

CrowdStrike Price Performance

CRWD traded up $17.67 during trading on Friday, reaching $513.77. The stock had a trading volume of 2,654,026 shares, compared to its average volume of 4,790,634. The stock has a market cap of $128.06 billion, a PE ratio of -744.59 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. CrowdStrike has a one year low of $200.81 and a one year high of $517.98. The business has a 50-day moving average of $463.46 and a 200-day moving average of $406.27.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (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 analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company's revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 17,525 shares of the firm's 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 sale, the chief executive officer directly owned 2,175,154 shares in the company, valued at $1,038,897,053.48. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,768 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total transaction of $869,449.36. Following the completion of the sale, the chief accounting officer owned 41,251 shares of the company's stock, valued at $20,286,004.27. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,571 shares of company stock valued at $115,469,993 in the last quarter. 3.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRWD shares. DA Davidson upped their price objective on CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. BMO Capital Markets upped their price objective on CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating and issued a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Needham & Company LLC boosted their target price on shares of CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Piper Sandler boosted their target price on shares of CrowdStrike from $400.00 to $505.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $453.88.

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.