CrowdStrike (NASDAQ:CRWD) Shares Purchased by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC significantly increased its position in CrowdStrike by 507.7% in the first quarter, acquiring an additional 3,051 shares for a total of 3,652 shares valued at approximately $1.29 million.
• Institutional investors and hedge funds own 71.16% of CrowdStrike's stock, reflecting strong investment interest in the company.
• CrowdStrike recently reported earnings of $0.73 per share, surpassing the analyst consensus estimate of $0.66, while its revenue increased by 19.8% year-over-year.

Drive Wealth Management LLC increased its holdings in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 507.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,652 shares of the company's stock after purchasing an additional 3,051 shares during the quarter. Drive Wealth Management LLC's holdings in CrowdStrike were worth $1,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRWD. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 2,417 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of CrowdStrike during the 4th quarter worth about $254,000. Congress Wealth Management LLC DE grew its position in CrowdStrike by 4.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 1,429 shares of the company's stock valued at $489,000 after acquiring an additional 67 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in CrowdStrike in the 4th quarter valued at about $207,000. Finally, Financial Engines Advisors L.L.C. acquired a new position in CrowdStrike in the 4th quarter valued at about $284,000. 71.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on CRWD shares. Stephens lifted their target price on CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. DA Davidson lifted their target price on CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Susquehanna lifted their target price on CrowdStrike from $425.00 to $530.00 and gave the company a "positive" rating in a research report on Wednesday, June 4th. Sanford C. Bernstein downgraded CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price for the company. in a research report on Friday, June 6th. Finally, Rosenblatt Securities lifted their target price on CrowdStrike from $450.00 to $515.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. One research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $461.17.

CrowdStrike Trading Up 1.3%

Shares of CrowdStrike stock traded up $5.89 during trading hours on Friday, reaching $467.92. The stock had a trading volume of 1,788,951 shares, compared to its average volume of 2,689,736. The firm has a 50 day simple moving average of $477.89 and a two-hundred day simple moving average of $418.70. The firm has a market capitalization of $116.63 billion, a price-to-earnings ratio of -678.14 and a beta of 1.16. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion for 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%. The company's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. As a group, equities research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Buying and Selling at CrowdStrike

In related news, Director Sameer K. Gandhi sold 6,250 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $512.43, for a total transaction 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. This trade represents a 0.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 sale, the chief accounting officer owned 41,251 shares in the company, valued at approximately $20,286,004.27. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,820 shares of company stock worth $113,297,985. Insiders own 3.32% of the company's stock.

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.