ING Groep NV Increases Stock Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• ING Groep NV significantly increased its stake in CrowdStrike by 944.1%, acquiring a total of 293,757 shares valued at approximately $103.6 million, which places CrowdStrike as the 28th largest position in its portfolio.
• Despite an increase in stake from various investors, including Atlantic Edge Private Wealth and E Fund Management, CrowdStrike's stock has faced volatility, recently trading down 1.7%.
• The company reported earnings that beat analyst expectations, with an EPS of $0.73 against a forecast of $0.66, and revenue growth of 19.8% year-over-year.

ING Groep NV grew its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 944.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,757 shares of the company's stock after purchasing an additional 265,621 shares during the period. CrowdStrike comprises about 0.7% of ING Groep NV's portfolio, making the stock its 28th largest position. ING Groep NV owned about 0.12% of CrowdStrike worth $103,573,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in CrowdStrike during the first quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC increased its holdings 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 buying an additional 40 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Neo Ivy Capital Management bought a new position in CrowdStrike during the first quarter worth about $30,000. Finally, Sound Income Strategies LLC boosted its position in CrowdStrike by 77.6% during the first quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock worth $31,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 71.16% of the company's stock.

CrowdStrike Trading Down 1.7%

CRWD stock opened at $446.66 on Monday. CrowdStrike has a 1-year low of $200.81 and a 1-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 company has a market capitalization of $111.33 billion, a price-to-earnings ratio of -647.33 and a beta of 1.13. The business has a 50 day simple moving average of $479.51 and a two-hundred day simple moving average of $423.31.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates 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 positive return on equity of 0.43% and a negative net margin of 4.17%. The company's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Research analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO George Kurtz sold 17,525 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $477.62, for a total value of $8,370,290.50. Following the completion of the sale, the chief executive officer directly owned 2,175,154 shares in the company, valued at $1,038,897,053.48. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 9,447 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total value of $4,843,004.55. Following the completion of the sale, the director owned 18,858 shares of the company's stock, valued at approximately $9,667,553.70. This represents a 33.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,014 shares of company stock valued at $74,238,060 over the last 90 days. 3.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRWD shares. BMO Capital Markets increased their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Truist Financial reissued a "buy" rating and set a $500.00 price target (up from $450.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Stifel Nicolaus lifted their price target on shares of CrowdStrike from $480.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Stephens upped their price target on shares of CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Rosenblatt Securities upped their price target on shares of CrowdStrike from $450.00 to $515.00 and gave the company a "buy" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $461.17.

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.

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