FourThought Financial Partners LLC Cuts Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• FourThought Financial Partners LLC decreased its stake in CrowdStrike by 8.9%, holding 10,620 shares worth approximately $3.74 million after selling 1,036 shares in the first quarter.
• Other institutional investors, such as Jennison Associates and Geode Capital Management, have significantly increased their holdings in CrowdStrike, highlighting strong interest in the company's stock.
• CrowdStrike's recent earnings report showed an EPS of $0.73, exceeding expectations, with revenue of $1.1 billion, indicating a 19.8% year-over-year revenue growth.

FourThought Financial Partners LLC trimmed its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,620 shares of the company's stock after selling 1,036 shares during the quarter. FourThought Financial Partners LLC's holdings in CrowdStrike were worth $3,744,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in CrowdStrike during the 1st quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC raised its holdings in CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 40 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings 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 valued at $27,000 after acquiring an additional 58 shares during the period. Neo Ivy Capital Management bought a new position in CrowdStrike in the 1st quarter valued at about $30,000. Finally, Sound Income Strategies LLC raised its holdings in CrowdStrike by 77.6% in the 1st quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares during the period. 71.16% of the stock is owned by institutional investors.

CrowdStrike Stock Down 1.8%

CRWD traded down $8.33 during midday trading on Tuesday, hitting $463.85. The company had a trading volume of 1,574,017 shares, compared to its average volume of 3,790,683. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $115.61 billion, a price-to-earnings ratio of -672.02 and a beta of 1.16. The stock's 50 day moving average price is $478.45 and its 200 day moving average price is $420.40.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion during 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 business's revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cfra restated a "hold" rating and set a $555.00 target price (up previously from $517.00) on shares of CrowdStrike in a research report on Thursday, July 10th. DZ Bank lowered shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 target price on the stock. in a research report on Thursday, May 22nd. Cantor Fitzgerald increased their price target on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Piper Sandler lowered shares of CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price target on the stock. in a research report on Monday, July 7th. Finally, BTIG Research reiterated a "buy" rating on shares of CrowdStrike in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $461.17.

Insider Activity at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $512.43, for a total transaction of $3,202,687.50. Following the completion of the sale, the director directly owned 781,011 shares of the company's stock, valued at $400,213,466.73. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Sentonas sold 11,527 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $471.20, for a total transaction of $5,431,522.40. Following the sale, the president directly owned 410,677 shares of the company's stock, valued at approximately $193,511,002.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,820 shares of company stock valued at $113,297,985 over the last quarter. 3.32% of the stock is currently owned by company insiders.

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.