Geneos Wealth Management Inc. Purchases 8,710 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Geneos Wealth Management Inc. increased its stake in CrowdStrike by 48.2% during the first quarter, owning 26,771 shares worth approximately $9.44 million.
• CrowdStrike reported a quarterly earnings per share of $0.73, exceeding analysts' expectations of $0.66, alongside a 19.8% year-over-year revenue growth.
• Institutional investors hold 71.16% of CrowdStrike's stock, suggesting strong confidence in the company's performance and stability.

Geneos Wealth Management Inc. boosted its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 48.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,771 shares of the company's stock after purchasing an additional 8,710 shares during the quarter. Geneos Wealth Management Inc.'s holdings in CrowdStrike were worth $9,439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cloud Capital Management LLC purchased a new position in shares of CrowdStrike in the 1st quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC boosted its position in CrowdStrike by 114.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 40 shares in the last quarter. 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 valued at $27,000 after acquiring an additional 58 shares in the last quarter. Neo Ivy Capital Management acquired a new position in CrowdStrike in the first quarter valued at $30,000. Finally, Sound Income Strategies LLC grew its stake 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 buying an additional 38 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Trading Down 0.5%

CRWD traded down $2.36 during trading on Wednesday, hitting $463.15. 2,104,867 shares of the company's stock were exchanged, compared to its average volume of 3,789,161. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $517.98. The stock has a 50 day moving average price of $478.91 and a 200 day moving average price of $420.72. The firm has a market cap of $115.44 billion, a P/E ratio of -671.23 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company earned $0.93 EPS. CrowdStrike's quarterly revenue was up 19.8% on a year-over-year basis. As a group, analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRWD. Cantor Fitzgerald lifted their target price on CrowdStrike from $440.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Westpark Capital reaffirmed a "hold" rating on shares of CrowdStrike in a research report on Thursday, June 5th. Evercore ISI reissued an "in-line" rating and set a $440.00 price objective (down previously from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. DA Davidson upped their price objective on CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Barclays set a $500.00 target price on CrowdStrike in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, CrowdStrike has an average rating of "Moderate Buy" and a consensus price target of $461.17.

Insider Buying and Selling at CrowdStrike

In related news, CFO Burt W. Podbere sold 16,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was 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 directly owned 249,653 shares in the company, valued at approximately $109,068,402.64. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 55,556 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total value of $24,863,532.24. Following the completion of the sale, the chief executive officer directly owned 2,192,610 shares of the company's stock, valued at approximately $981,280,679.40. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,820 shares of company stock valued at $113,297,985 in the last three months. 3.32% of the stock is owned by 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.