Jennison Associates LLC Has $2.31 Billion Stake in CrowdStrike (NASDAQ:CRWD)

Jennison Associates LLC grew its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,565,275 shares of the company's stock after buying an additional 1,144,295 shares during the quarter. CrowdStrike accounts for 1.6% of Jennison Associates LLC's investment portfolio, making the stock its 15th largest holding. Jennison Associates LLC owned 2.65% of CrowdStrike worth $2,314,785,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike during the 1st quarter worth $25,000. Atlantic Edge Private Wealth Management LLC grew its stake 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 last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake 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 last quarter. Sound Income Strategies LLC grew its stake 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 last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in CrowdStrike in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 71.16% of the company's stock.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,768 shares of CrowdStrike stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total transaction of $869,449.36. Following the transaction, the chief accounting officer owned 41,251 shares of the company's stock, valued at $20,286,004.27. The trade was a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Sentonas sold 11,527 shares of CrowdStrike stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $471.20, for a total value of $5,431,522.40. Following the transaction, the president directly owned 410,677 shares in the company, valued at approximately $193,511,002.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,294 shares of company stock worth $118,670,500. 3.32% of the stock is owned by company insiders.

CrowdStrike Stock Performance

Shares of CRWD traded up $6.13 during midday trading on Friday, hitting $475.96. 2,901,063 shares of the stock traded hands, compared to its average volume of 4,756,175. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98. The firm has a market capitalization of $118.63 billion, a PE ratio of -689.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The business's 50 day moving average price is $474.54 and its two-hundred day moving average price is $414.78.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The company's revenue was up 19.8% on a year-over-year basis. Equities research analysts predict that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

CRWD has been the topic of a number of research reports. Rosenblatt Securities increased their price objective on shares of CrowdStrike from $450.00 to $515.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $485.00 price target (up from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Barclays set a $500.00 price target on shares of CrowdStrike in a research note on Tuesday, June 3rd. Stifel Nicolaus raised 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. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $475.00 price target (up from $420.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $460.93.

CrowdStrike Company 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.