CrowdStrike (NASDAQ:CRWD) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lessened its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,621 shares of the company's stock after selling 1,153 shares during the quarter. Palumbo Wealth Management LLC's holdings in CrowdStrike were worth $924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in CrowdStrike in the 4th quarter worth about $1,111,542,000. GAMMA Investing LLC boosted its stake in shares of CrowdStrike by 50,536.2% in the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock worth $383,132,000 after acquiring an additional 1,084,506 shares during the last quarter. Pathstone Holdings LLC raised its stake in CrowdStrike by 379.0% in the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after purchasing an additional 1,017,678 shares during the last quarter. Raymond James Financial Inc. purchased a new position in CrowdStrike in the 4th quarter valued at $237,375,000. Finally, Voya Investment Management LLC boosted its stake in CrowdStrike by 43.5% during the 4th quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company's stock worth $657,106,000 after purchasing an additional 582,471 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Trading Down 1.2%

Shares of CrowdStrike stock traded down $5.66 during trading hours on Tuesday, reaching $486.15. 2,661,707 shares of the company's stock were exchanged, compared to its average volume of 4,797,475. The firm has a market capitalization of $121.17 billion, a price-to-earnings ratio of -704.57 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 52-week low of $200.81 and a 52-week high of $497.45. The company has a fifty day moving average of $442.88 and a 200-day moving average of $397.93.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.93 EPS. The company's quarterly revenue was up 19.8% compared to the same quarter last year. Sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America restated a "neutral" rating and set a $470.00 price target (up from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and issued a $485.00 price target (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Stifel Nicolaus upped their target price on CrowdStrike from $480.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Finally, Jefferies Financial Group upped their price objective on shares of CrowdStrike from $410.00 to $520.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $453.17.

Insider Transactions at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 55,556 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $447.54, for a total value of $24,863,532.24. Following the transaction, the chief executive officer now owns 2,192,610 shares in the company, valued at $981,280,679.40. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roxanne S. Austin sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $482.50, for a total transaction of $4,825,000.00. Following the sale, the director now directly owns 18,297 shares of the company's stock, valued at $8,828,302.50. The trade was a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,060 shares of company stock worth $87,750,868 in the last ninety days. Insiders own 3.32% of the company's stock.

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.