Envestnet Portfolio Solutions Inc. Trims Position in CrowdStrike (NASDAQ:CRWD)

Envestnet Portfolio Solutions Inc. decreased its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 27.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,297 shares of the company's stock after selling 2,409 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in CrowdStrike were worth $2,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. grew its position in CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock valued at $28,000 after buying an additional 73 shares during the period. Sound Income Strategies LLC grew its holdings in CrowdStrike by 77.6% during 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 during the 4th quarter valued at approximately $34,000. Millstone Evans Group LLC purchased a new stake in shares of CrowdStrike in the fourth quarter worth $34,000. Finally, ST Germain D J Co. Inc. increased its stake in CrowdStrike by 426.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 100 shares of the company's stock worth $35,000 after buying an additional 81 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRWD. Needham & Company LLC increased their price objective on shares of CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on CrowdStrike from $418.00 to $450.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Robert W. Baird reduced their target price on shares of CrowdStrike from $440.00 to $405.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Westpark Capital reaffirmed a "hold" rating on shares of CrowdStrike in a research note on Thursday, June 5th. Finally, Wedbush increased their price objective on shares of CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $453.17.

CrowdStrike Price Performance

Shares of CRWD stock opened at $476.30 on Monday. The stock's 50-day moving average is $440.62 and its 200 day moving average is $397.05. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $493.20. 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 cap of $118.72 billion, a P/E ratio of -690.29 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the firm earned $0.93 EPS. The business's quarterly revenue was up 19.8% on a year-over-year basis. Research analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Burt W. Podbere sold 16,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.88, for a total value of $6,990,080.00. Following the completion of the transaction, the chief financial officer now directly owns 249,653 shares of the company's stock, valued at $109,068,402.64. This trade represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Kurtz sold 55,556 shares of CrowdStrike stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the completion of the sale, the chief executive officer now owns 2,192,610 shares of the company's stock, valued at $981,280,679.40. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,060 shares of company stock valued at $87,750,868. 3.32% of the stock is currently owned by corporate 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.

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