Allen Investment Management LLC Grows Stock Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• Allen Investment Management LLC increased its holdings in CrowdStrike by 17.9% during the first quarter, owning a total of 179,764 shares valued at approximately $63.38 million.
• Research analysts have diverse ratings for CrowdStrike, with one sell rating, nineteen hold ratings, and twenty-six buy ratings, indicating a generally positive outlook.
• CrowdStrike reported earnings of $0.73 EPS for the quarter, exceeding analysts' expectations, alongside a 19.8% year-over-year revenue growth, totaling $1.10 billion.

Allen Investment Management LLC grew its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,764 shares of the company's stock after acquiring an additional 27,342 shares during the quarter. CrowdStrike comprises approximately 0.7% of Allen Investment Management LLC's investment portfolio, making the stock its 26th largest holding. Allen Investment Management LLC owned about 0.07% of CrowdStrike worth $63,381,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in CrowdStrike by 44.9% during the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock worth $2,670,000 after buying an additional 2,417 shares during the last quarter. Congress Wealth Management LLC DE raised its position in CrowdStrike by 4.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,429 shares of the company's stock worth $489,000 after buying an additional 67 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new position in CrowdStrike during the 4th quarter worth approximately $284,000. Ausdal Financial Partners Inc. raised its position in CrowdStrike by 16.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 2,102 shares of the company's stock worth $719,000 after buying an additional 296 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in CrowdStrike by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 427,507 shares of the company's stock worth $153,484,000 after buying an additional 11,208 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD traded up $5.89 during mid-day trading on Friday, hitting $467.92. 1,788,951 shares of the company were exchanged, compared to its average volume of 2,689,736. 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 50 day simple moving average of $477.89 and a 200-day simple moving average of $419.12. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98. The firm has a market cap of $116.63 billion, a price-to-earnings ratio of -678.14 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. CrowdStrike's quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Roxanne S. Austin sold 9,447 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the completion of the transaction, the director owned 18,858 shares of the company's stock, valued at $9,667,553.70. This represents a 33.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael Sentonas sold 11,527 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $471.20, for a total transaction of $5,431,522.40. Following the transaction, the president directly owned 410,677 shares of the company's stock, valued at approximately $193,511,002.40. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,820 shares of company stock worth $113,297,985 in the last quarter. Corporate insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CRWD shares. JMP Securities reissued a "market outperform" rating and set a $500.00 price target on shares of CrowdStrike in a research report on Wednesday, June 4th. Canaccord Genuity Group reissued 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. Bank of America reaffirmed a "neutral" rating and set a $470.00 target price (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Mizuho lifted their target price on shares of CrowdStrike from $425.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, BTIG Research reissued a "buy" rating on shares of CrowdStrike in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $461.17.

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.