LGT Group Foundation Lowers Stock Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• LGT Group Foundation has reduced its stake in CrowdStrike (NASDAQ:CRWD) by 3.7%, now holding approximately 38,571 shares valued at $13.6 million.
• CrowdStrike recently reported earnings of $0.73 EPS, exceeding analyst expectations, with revenues also showing a year-over-year increase of 19.8%.
• Despite various analysts giving mostly "hold" or "buy" ratings, CrowdStrike's stock is currently priced around $426.43 and faces a significant valuation test ahead of its upcoming earnings report.

LGT Group Foundation lowered its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 3.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 38,571 shares of the company's stock after selling 1,471 shares during the period. LGT Group Foundation's holdings in CrowdStrike were worth $13,599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRWD. Brighton Jones LLC lifted its position in shares of CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock worth $2,670,000 after purchasing an additional 2,417 shares during the period. Renaissance Technologies LLC acquired a new position in shares of CrowdStrike during the 4th quarter valued at $17,416,000. Bessemer Group Inc. lifted its position in shares of CrowdStrike by 98.8% during the 4th quarter. Bessemer Group Inc. now owns 2,123 shares of the company's stock valued at $726,000 after acquiring an additional 1,055 shares during the period. Sagespring Wealth Partners LLC acquired a new position in shares of CrowdStrike during the 4th quarter valued at $632,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of CrowdStrike by 3.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,708 shares of the company's stock valued at $3,322,000 after acquiring an additional 366 shares during the period. Institutional investors and hedge funds own 71.16% of the company's stock.

Insider Activity

In other CrowdStrike news, President Michael Sentonas sold 25,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the completion of the transaction, the president owned 422,204 shares in the company, valued at $201,391,308. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurtz sold 42,267 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $450.47, for a total transaction of $19,040,015.49. Following the transaction, the chief executive officer owned 2,132,887 shares of the company's stock, valued at $960,801,606.89. This represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 214,414 shares of company stock valued at $101,484,738. 3.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRWD. Sanford C. Bernstein downgraded shares of CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price on the stock. in a research report on Friday, June 6th. Raymond James Financial restated an "outperform" rating and set a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. UBS Group restated a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Cfra restated a "hold" rating and set a $555.00 price objective (up previously from $517.00) on shares of CrowdStrike in a report on Thursday, July 10th. Finally, Scotiabank upped their price objective on shares of CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $461.17.

CrowdStrike Stock Performance

NASDAQ:CRWD traded down $7.26 on Thursday, reaching $424.86. 2,908,247 shares of the company's stock were exchanged, compared to its average volume of 3,728,830. 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 firm has a market cap of $105.90 billion, a price-to-earnings ratio of -615.74 and a beta of 1.13. CrowdStrike has a 52 week low of $242.25 and a 52 week high of $517.98. The stock has a fifty day simple moving average of $474.36 and a 200-day simple moving average of $426.30.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. As a group, sell-side analysts predict that CrowdStrike will post 0.55 earnings per share for the current year.

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.