CrowdStrike (NASDAQ:CRWD) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has reduced its position in CrowdStrike by 31.1%, selling 9,540 shares and bringing its total holdings to 21,104 shares worth approximately $7.44 million.
• Several institutional investors have adjusted their stakes in CrowdStrike, with notable increases in holdings by E Fund Management Hong Kong Co. (305.3%) and Atlantic Edge Private Wealth Management (114.3%).
• Analysts have recently revised CrowdStrike's price targets upwards, with Scotiabank raising it from $370 to $480 and Wedbush raising it to $525, indicating positive sentiment in the market.

J. Safra Sarasin Holding AG decreased its holdings in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 31.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 21,104 shares of the company's stock after selling 9,540 shares during the period. J. Safra Sarasin Holding AG's holdings in CrowdStrike were worth $7,441,000 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 purchased a new position in CrowdStrike during the 1st quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of CrowdStrike during the 1st quarter worth approximately $30,000. Finally, Sound Income Strategies LLC raised its stake in shares of CrowdStrike by 77.6% during the 1st quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock worth $31,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRWD shares. BTIG Research reiterated a "buy" rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their target price on shares of CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Mizuho lifted their target price on shares of CrowdStrike from $425.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and issued a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, June 4th. Finally, Oppenheimer lifted their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $461.17.

Insider Buying and Selling

In other news, CFO Burt W. Podbere sold 16,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the sale, the chief financial officer owned 249,653 shares of the company's stock, valued at approximately $109,068,402.64. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denis Oleary sold 15,680 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the sale, the director directly owned 36,906 shares in the company, valued at $17,306,330.58. This represents a 29.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,570 shares of company stock valued at $110,581,672 over the last three months. Company insiders own 3.32% of the company's stock.

CrowdStrike Trading Down 1.7%

NASDAQ CRWD traded down $7.91 during trading hours on Friday, reaching $446.66. The company had a trading volume of 3,012,444 shares, compared to its average volume of 2,655,223. The stock has a 50-day moving average of $479.51 and a 200 day moving average of $423.31. CrowdStrike has a 1-year low of $200.81 and a 1-year 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. The stock has a market capitalization of $111.33 billion, a P/E ratio of -647.33 and a beta of 1.13.

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. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. CrowdStrike's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

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.