CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Grows Position in CrowdStrike (NASDAQ:CRWD)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,000 shares of the company's stock after buying an additional 1,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in CrowdStrike were worth $5,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRWD. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CrowdStrike by 305.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of CrowdStrike by 77.6% in the first quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock valued at $31,000 after purchasing an additional 38 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of CrowdStrike in the fourth quarter valued at about $34,000. Millstone Evans Group LLC bought a new position in shares of CrowdStrike in the fourth quarter valued at about $34,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of CrowdStrike by 426.3% in the first quarter. ST Germain D J Co. Inc. now owns 100 shares of the company's stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRWD shares. Stifel Nicolaus upped their price target on shares of CrowdStrike from $480.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. UBS Group reissued a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Cantor Fitzgerald increased 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. KeyCorp dropped their price objective on shares of CrowdStrike from $480.00 to $450.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, Citigroup reiterated an "outperform" rating on shares of CrowdStrike in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $453.88.

CrowdStrike Stock Down 1.2%

CRWD traded down $5.89 during mid-day trading on Friday, reaching $499.33. 3,464,614 shares of the stock were exchanged, compared to its average volume of 4,782,319. The stock has a market capitalization of $124.46 billion, a PE ratio of -723.67 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $506.35. The company has a 50 day moving average price of $452.08 and a two-hundred day moving average price of $401.56.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The company's quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts anticipate that CrowdStrike will post 0.55 EPS for the current year.

Insider Activity at CrowdStrike

In related news, Director Roxanne S. Austin sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total value of $7,465,050.00. Following the transaction, the director now directly owns 18,858 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CAO Anurag Saha sold 1,768 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 41,251 shares in the company, valued at approximately $20,286,004.27. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,821 shares of company stock worth $115,966,659. Company 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.