Zurcher Kantonalbank Zurich Cantonalbank Sells 47,865 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Zurcher Kantonalbank has reduced its holdings in CrowdStrike by 26.6% in the 1st quarter, selling a total of 47,865 shares and now owns approximately 0.05% of the company.
• Other institutional investors, like Jennison Associates and GAMMA Investing, have significantly increased their positions in CrowdStrike, with some growing their holdings by more than 50,000%.
• CrowdStrike's earnings report showed a positive EPS of $0.73, surpassing analyst expectations, but its revenue for the quarter was slightly below forecasts at $1.10 billion.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 26.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,074 shares of the company's stock after selling 47,865 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of CrowdStrike worth $46,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in CrowdStrike in the 1st quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC lifted its position in CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in CrowdStrike by 305.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in CrowdStrike in the 1st quarter worth approximately $30,000. Finally, Sound Income Strategies LLC raised its holdings in shares of CrowdStrike by 77.6% during the 1st quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock valued at $31,000 after purchasing an additional 38 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Stock Down 0.4%

Shares of NASDAQ CRWD traded down $2.06 during trading on Wednesday, hitting $463.45. The stock had a trading volume of 1,526,944 shares, compared to its average volume of 3,784,632. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $517.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $115.52 billion, a PE ratio of -671.67 and a beta of 1.16. The firm has a fifty day moving average of $478.91 and a two-hundred day moving average of $420.72.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share 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 negative net margin of 4.17% and a positive return on equity of 0.43%. The firm's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. As a group, equities research analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

CRWD has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of CrowdStrike from $370.00 to $480.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Cantor Fitzgerald lifted their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Westpark Capital restated a "hold" rating on shares of CrowdStrike in a research report on Thursday, June 5th. JMP Securities restated a "market outperform" rating and issued a $500.00 price target on shares of CrowdStrike in a research report on Wednesday, June 4th. Finally, Truist Financial restated a "buy" rating and issued a $500.00 price target (up from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $461.17.

Insider Buying and Selling at CrowdStrike

In other news, Director Johanna Flower sold 2,073 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $474.21, for a total value of $983,037.33. Following the sale, the director directly owned 81,383 shares of the company's stock, valued at approximately $38,592,632.43. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,768 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total transaction of $869,449.36. Following the completion of the sale, the chief accounting officer directly 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. Over the last 90 days, insiders sold 241,820 shares of company stock valued at $113,297,985. 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.