Maryland State Retirement & Pension System Lowers Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• Maryland State Retirement & Pension System reduced its holdings in CrowdStrike by 13.0%, selling 1,611 shares, bringing its total ownership to 10,760 shares valued at approximately $3.79 million.
• CrowdStrike's stock had a trading volume of 3,626,057 shares, with a current price of $424.49, reflecting a significant increase from its 52-week low of $235.60.
• Insider transactions revealed that CFO Burt W. Podbere sold 11,883 shares for over $5.4 million, indicating a 4.89% decrease in his ownership stake.

Maryland State Retirement & Pension System reduced its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 13.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 10,760 shares of the company's stock after selling 1,611 shares during the quarter. Maryland State Retirement & Pension System's holdings in CrowdStrike were worth $3,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in CrowdStrike by 4.1% during the first quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock valued at $8,051,011,000 after purchasing an additional 908,554 shares during the last quarter. Jennison Associates LLC lifted its holdings in CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after purchasing an additional 1,144,295 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in CrowdStrike by 39.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,665,344 shares of the company's stock valued at $939,747,000 after purchasing an additional 760,222 shares during the last quarter. Northern Trust Corp lifted its holdings in CrowdStrike by 16.6% during the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company's stock valued at $777,292,000 after purchasing an additional 324,136 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in CrowdStrike by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,938,331 shares of the company's stock valued at $663,221,000 after purchasing an additional 206,159 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRWD shares. Citigroup reaffirmed an "outperform" rating on shares of CrowdStrike in a report on Monday, May 5th. Stephens increased their price target on shares of CrowdStrike from $450.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Rosenblatt Securities increased their price target on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Cantor Fitzgerald increased their price target on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Scotiabank increased their price target 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 assigned a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD traded down $0.51 during midday trading on Friday, hitting $424.49. 3,626,057 shares of the company's stock traded hands, compared to its average volume of 2,718,355. CrowdStrike has a 1 year low of $235.60 and a 1 year high of $517.98. The stock has a market capitalization of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. 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 firm has a fifty day moving average of $477.04 and a 200 day moving average of $425.17.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity

In related news, Director Johanna Flower sold 2,073 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $474.21, for a total transaction of $983,037.33. Following the completion of the transaction, the director directly owned 81,383 shares in the company, valued at approximately $38,592,632.43. The trade was a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George Kurtz sold 42,267 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $450.47, for a total value of $19,040,015.49. Following the transaction, the chief executive officer owned 2,132,887 shares of the company's stock, valued at approximately $960,801,606.89. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 214,414 shares of company stock worth $101,484,738. Company insiders own 3.32% of the company's stock.

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.