State of New Jersey Common Pension Fund D Sells 2,619 Shares of CrowdStrike $CRWD

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in CrowdStrike (NASDAQ:CRWD) by 3.1%, now owning 82,594 shares valued at approximately $29.12 million.
• Several institutional investors are increasing their positions in CrowdStrike, with Blue Trust Inc. raising its stake by 20.4% and Voya Investment Management LLC increasing its holdings by 43.5% in the previous quarter.
• Insider trading reports indicate that CrowdStrike's CFO and a director sold shares recently, with a total of 214,414 shares worth over $101 million sold by insiders in the last quarter.

State of New Jersey Common Pension Fund D reduced its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,594 shares of the company's stock after selling 2,619 shares during the period. State of New Jersey Common Pension Fund D's holdings in CrowdStrike were worth $29,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CRWD. Brighton Jones LLC lifted its stake in shares of CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock worth $2,670,000 after acquiring an additional 2,417 shares during the period. Bridgewater Associates LP bought a new stake in shares of CrowdStrike in the 4th quarter worth approximately $4,600,000. Jump Financial LLC raised its holdings in shares of CrowdStrike by 53.2% in the 4th quarter. Jump Financial LLC now owns 1,924 shares of the company's stock worth $658,000 after purchasing an additional 668 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of CrowdStrike by 9.8% in the 4th quarter. NewEdge Advisors LLC now owns 20,709 shares of the company's stock worth $7,086,000 after purchasing an additional 1,847 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of CrowdStrike by 4.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 262,576 shares of the company's stock worth $89,770,000 after purchasing an additional 10,194 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Michael Sentonas sold 25,000 shares of CrowdStrike stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 15,000 shares of CrowdStrike stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the transaction, the director directly owned 18,858 shares in the company, valued at $9,385,060.86. The trade was a 44.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,414 shares of company stock worth $101,484,738. 3.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup reiterated an "outperform" rating on shares of CrowdStrike in a report on Monday, May 5th. Bank of America reiterated a "neutral" rating and issued a $470.00 target price (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Oppenheimer boosted their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Stephens boosted their price target on shares of CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Cfra reiterated a "hold" rating and issued a $555.00 target price (up previously from $517.00) on shares of CrowdStrike in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Trading Up 0.7%

Shares of NASDAQ CRWD traded up $3.04 during mid-day trading on Friday, hitting $427.90. The company's stock had a trading volume of 2,262,855 shares, compared to its average volume of 2,703,951. The stock has a market cap of $106.65 billion, a price-to-earnings ratio of -620.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. CrowdStrike has a one year low of $242.25 and a one year high of $517.98. The company's fifty day simple moving average is $472.79 and its 200-day simple moving average is $427.21.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. On average, sell-side analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

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.