CrowdStrike (NASDAQ:CRWD) Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC decreased its holdings in CrowdStrike shares by 5.3% in the 1st quarter, now owning 135,908 shares valued at approximately $47.9 million.
• Several institutional investors, including Norges Bank and Jennison Associates LLC, have significantly increased their stake in CrowdStrike during recent quarters, indicating a strong interest in the stock.
• CrowdStrike's quarterly earnings report showed a 19.8% increase in revenue year-over-year, with an EPS of $0.73, surpassing analysts' expectations of $0.66.

ARK Investment Management LLC decreased its holdings in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,908 shares of the company's stock after selling 7,610 shares during the quarter. ARK Investment Management LLC owned about 0.05% of CrowdStrike worth $47,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRWD. Norges Bank acquired a new position in shares of CrowdStrike during the 4th quarter valued at $1,111,542,000. Jennison Associates LLC lifted its holdings in shares of CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after acquiring an additional 1,144,295 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CrowdStrike by 50,536.2% during the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock valued at $383,132,000 after acquiring an additional 1,084,506 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in CrowdStrike by 43.5% in the 4th quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company's stock worth $657,106,000 after buying an additional 582,471 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company's stock.

Insiders Place Their Bets

In related news, Director Roxanne S. Austin sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the completion of the sale, the director directly owned 18,858 shares of the company's stock, valued at $9,385,060.86. This represents a 44.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Burt W. Podbere sold 16,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the sale, the chief financial officer directly owned 249,653 shares of the company's stock, valued at approximately $109,068,402.64. This represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,820 shares of company stock valued at $113,297,985. 3.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRWD. Susquehanna upped their price objective on shares of CrowdStrike from $425.00 to $530.00 and gave the company a "positive" rating in a research report on Wednesday, June 4th. Canaccord Genuity Group reissued a "hold" rating and issued a $475.00 price objective (up from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Piper Sandler cut shares of CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price objective for the company. in a research report on Monday, July 7th. Rosenblatt Securities upped their price objective on shares of CrowdStrike from $450.00 to $515.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, Scotiabank upped their price objective on shares of CrowdStrike from $370.00 to $480.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $461.17.

CrowdStrike Price Performance

NASDAQ CRWD opened at $467.92 on Friday. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The stock has a market cap of $116.63 billion, a price-to-earnings ratio of -678.14 and a beta of 1.16. The company has a 50-day moving average price of $477.89 and a two-hundred day moving average price of $418.70.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results 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 negative net margin of 4.17% and a positive return on equity of 0.43%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. CrowdStrike's quarterly revenue was up 19.8% on a year-over-year basis. Analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.