Deutsche Bank AG Sells 107,019 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Deutsche Bank AG has reduced its stake in CrowdStrike (NASDAQ:CRWD) by 12%, owning 785,584 shares after selling 107,019 shares during the first quarter.
• Vanguard Group Inc. and Goldman Sachs Group Inc. increased their positions in CrowdStrike by 4.1% and 39.9%, respectively, illustrating strong interest from institutional investors.
• CrowdStrike's stock is currently valued at $424.49, with analysts projecting an average price target of $461.17 and a consensus rating of "Moderate Buy."

Deutsche Bank AG reduced its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 785,584 shares of the company's stock after selling 107,019 shares during the period. Deutsche Bank AG owned about 0.32% of CrowdStrike worth $276,981,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock valued at $2,670,000 after purchasing an additional 2,417 shares during the last quarter. Renaissance Technologies LLC acquired a new position in CrowdStrike during the 4th quarter valued at about $17,416,000. Bessemer Group Inc. increased its stake in CrowdStrike by 98.8% during the 4th quarter. Bessemer Group Inc. now owns 2,123 shares of the company's stock valued at $726,000 after buying an additional 1,055 shares during the period. Scotia Capital Inc. raised its holdings in shares of CrowdStrike by 8.0% in the 4th quarter. Scotia Capital Inc. now owns 56,460 shares of the company's stock worth $19,319,000 after purchasing an additional 4,201 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of CrowdStrike by 2.1% in the 4th quarter. Treasurer of the State of North Carolina now owns 101,233 shares of the company's stock worth $34,638,000 after purchasing an additional 2,080 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Stock Performance

CRWD stock traded down $0.51 during midday trading on Friday, reaching $424.49. 3,626,057 shares of the company were exchanged, 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 debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. The business has a 50-day moving average price of $477.04 and a two-hundred day moving average price of $425.17.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its 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. 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The company's revenue was up 19.8% on a year-over-year basis. Equities research analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of CrowdStrike from $389.00 to $530.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. BTIG Research reissued a "buy" rating on shares of CrowdStrike in a research report on Thursday, May 22nd. Macquarie assumed coverage on shares of CrowdStrike in a research report on Thursday, July 17th. They issued a "neutral" rating and a $465.00 target price on the stock. Stephens lifted their target price on shares of CrowdStrike from $450.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, Roth Capital boosted their price objective on shares of CrowdStrike from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One equities research 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 stock. According to data from MarketBeat, CrowdStrike has a consensus rating of "Moderate Buy" and an average target price of $461.17.

Insiders Place Their Bets

In other CrowdStrike news, Director Denis Oleary sold 15,680 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the completion of the transaction, the director owned 36,906 shares of the company's stock, valued at approximately $17,306,330.58. The trade was a 29.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 11,883 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total value of $5,412,350.01. Following the transaction, the chief financial officer directly owned 231,130 shares of the company's stock, valued at approximately $105,272,781.10. The trade was a 4.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,414 shares of company stock valued at $101,484,738 over the last 90 days. 3.32% of the stock is owned by company insiders.

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.