Ithaka Group LLC Has $11.41 Million Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• Ithaka Group LLC increased its stake in CrowdStrike by 69.4% during the first quarter, now holding 32,349 shares worth approximately $11.41 million.
• Several analysts have raised their price targets for CrowdStrike, with Cantor Fitzgerald setting a new target at $475 and Jefferies Financial Group at $530, indicating a strong positive outlook.
• CrowdStrike reported earnings of $0.73 per share for the quarter, surpassing analyst expectations, but its revenue of $1.10 billion fell slightly short of the anticipated $1.11 billion.

Ithaka Group LLC raised its holdings in CrowdStrike (NASDAQ:CRWD - Free Report) by 69.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,349 shares of the company's stock after purchasing an additional 13,257 shares during the period. CrowdStrike makes up about 2.3% of Ithaka Group LLC's portfolio, making the stock its 16th largest holding. Ithaka Group LLC's holdings in CrowdStrike were worth $11,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vision Financial Markets LLC bought a new stake in shares of CrowdStrike during the 1st quarter worth approximately $26,000. iA Global Asset Management Inc. increased its position in CrowdStrike by 2.1% during the 1st quarter. iA Global Asset Management Inc. now owns 25,741 shares of the company's stock worth $9,076,000 after purchasing an additional 536 shares in the last quarter. Maxi Investments CY Ltd acquired a new position in CrowdStrike during the 1st quarter worth approximately $4,117,000. Cary Street Partners Investment Advisory LLC increased its position in CrowdStrike by 292.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 220 shares of the company's stock worth $78,000 after purchasing an additional 164 shares in the last quarter. Finally, Advyzon Investment Management LLC acquired a new position in CrowdStrike during the 1st quarter worth approximately $132,000. Institutional investors own 71.16% of the company's stock.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, Director Johanna Flower sold 2,073 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $474.21, for a total value of $983,037.33. Following the completion of the transaction, the director directly owned 81,383 shares of the company's stock, valued at approximately $38,592,632.43. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roxanne S. Austin sold 9,447 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the sale, the director directly owned 18,858 shares of the company's stock, valued at $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. In the last ninety days, insiders have sold 214,414 shares of company stock worth $101,484,738. 3.32% of the stock is owned by insiders.

CrowdStrike Stock Performance

NASDAQ CRWD traded up $9.94 during trading hours on Wednesday, hitting $451.69. 2,030,984 shares of the company's stock traded hands, compared to its average volume of 2,633,956. The business's fifty day moving average price is $478.89 and its two-hundred day moving average price is $424.11. The firm has a market capitalization of $112.58 billion, a P/E ratio of -654.62 and a beta of 1.13. CrowdStrike has a 52 week low of $229.72 and a 52 week high of $517.98. 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 (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $1.10 billion for 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 company's quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. Equities research analysts predict that CrowdStrike will post 0.55 EPS for the current year.

Analysts Set New Price Targets

CRWD has been the subject of a number of research analyst reports. Piper Sandler cut shares of CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price objective for the company. in a research report on Monday, July 7th. JMP Securities reiterated a "market outperform" rating and set a $500.00 price objective on shares of CrowdStrike in a research report on Wednesday, June 4th. Cfra restated a "hold" rating and issued a $555.00 price target (up from $517.00) on shares of CrowdStrike in a research report on Thursday, July 10th. DA Davidson upped their price target on shares of CrowdStrike from $415.00 to $530.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Truist Financial restated a "buy" rating and issued a $500.00 price target (up from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. One investment 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 stock. Based on data from MarketBeat, CrowdStrike has a consensus rating of "Moderate Buy" and an average price target 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.