Primecap Management Co. CA Decreases Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• Primecap Management Co. CA has reduced its holdings in CrowdStrike by 2.8%, selling 3,670 shares to now own 126,766 shares valued at approximately $44.7 million.
• Jennison Associates LLC significantly increased its investment in CrowdStrike by 21.1%, acquiring over 1.1 million additional shares, bringing their total ownership to 6.5 million shares worth around $2.3 billion.
• CrowdStrike reported a quarterly EPS of $0.73, surpassing predictions, with year-over-year revenue growth of 19.8%; analysts project an EPS of 0.55 for the current fiscal year.

Primecap Management Co. CA trimmed its holdings in CrowdStrike (NASDAQ:CRWD - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,766 shares of the company's stock after selling 3,670 shares during the period. Primecap Management Co. CA owned about 0.05% of CrowdStrike worth $44,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Tidemark LLC lifted its position in shares of CrowdStrike by 10.2% in the first quarter. Tidemark LLC now owns 721 shares of the company's stock valued at $254,000 after acquiring an additional 67 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in shares of CrowdStrike in the first quarter worth about $202,000. WealthShield Partners LLC lifted its position in shares of CrowdStrike by 2.7% in the first quarter. WealthShield Partners LLC now owns 16,870 shares of the company's stock worth $5,948,000 after buying an additional 447 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in shares of CrowdStrike by 18.7% in the first quarter. Exencial Wealth Advisors LLC now owns 935 shares of the company's stock worth $330,000 after buying an additional 147 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of CrowdStrike by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock worth $8,051,011,000 after buying an additional 908,554 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CrowdStrike

In related news, President Michael Sentonas sold 25,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the sale, the president owned 422,204 shares of the company's stock, valued at $201,391,308. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurtz sold 42,267 shares of CrowdStrike stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $450.47, for a total value of $19,040,015.49. Following the completion of the transaction, the chief executive officer owned 2,132,887 shares in the company, valued at $960,801,606.89. This trade represents a 1.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,414 shares of company stock worth $101,484,738. Company insiders own 3.32% of the company's stock.

CrowdStrike Trading Down 0.1%

NASDAQ:CRWD traded down $0.51 during midday trading on Friday, hitting $424.49. The stock had a trading volume of 3,626,057 shares, compared to its average volume of 2,718,355. CrowdStrike has a one year low of $235.60 and a one year high of $517.98. The company has a market capitalization of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. The stock has a 50-day moving average of $477.04 and a 200 day moving average of $425.50. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Stephens boosted their target price on CrowdStrike from $450.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Bank of America reiterated a "neutral" rating and issued a $470.00 target price (up from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Stifel Nicolaus boosted their target price on CrowdStrike from $480.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays set a $500.00 target price on CrowdStrike in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $461.17.

About CrowdStrike

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.