Maryland State Retirement & Pension System Cuts Stock 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 trimmed its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,760 shares of the company's stock after selling 1,611 shares during the period. Maryland State Retirement & Pension System's holdings in CrowdStrike were worth $3,794,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC grew its stake in CrowdStrike by 11.2% during the 4th quarter. FSA Wealth Management LLC now owns 228 shares of the company's stock worth $78,000 after buying an additional 23 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of CrowdStrike by 20.8% in the first quarter. Tradewinds Capital Management LLC now owns 145 shares of the company's stock valued at $51,000 after buying an additional 25 shares in the last quarter. Close Asset Management Ltd grew its stake in CrowdStrike by 23.8% during the 1st quarter. Close Asset Management Ltd now owns 130 shares of the company's stock valued at $46,000 after purchasing an additional 25 shares in the last quarter. Ramirez Asset Management Inc. grew its position in shares of CrowdStrike by 5.9% in the 1st quarter. Ramirez Asset Management Inc. now owns 450 shares of the company's stock worth $159,000 after acquiring an additional 25 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of CrowdStrike by 0.9% in the 1st quarter. Stratos Wealth Advisors LLC now owns 2,983 shares of the company's stock worth $1,052,000 after purchasing an additional 26 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $447.09, for a total transaction of $2,794,312.50. Following the sale, the director directly owned 774,761 shares in the company, valued at $346,387,895.49. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johanna Flower sold 2,073 shares of the company's stock in a transaction on 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 sale, the director 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 214,414 shares of company stock valued at $101,484,738. 3.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRWD has been the topic of a number of recent research reports. Oppenheimer boosted their target price on CrowdStrike from $410.00 to $520.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JMP Securities reaffirmed a "market outperform" rating and set a $500.00 price objective on shares of CrowdStrike in a research note on Wednesday, June 4th. Stifel Nicolaus boosted their price objective on CrowdStrike from $480.00 to $495.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. BMO Capital Markets boosted their price objective on shares of CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group increased their price objective on CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. One research 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 stock. According to data from MarketBeat, CrowdStrike presently has a consensus rating of "Moderate Buy" and a consensus target price of $461.17.

CrowdStrike Trading Up 1.5%

Shares of CRWD traded up $6.42 during mid-day trading on Monday, reaching $430.91. The company's stock had a trading volume of 1,118,557 shares, compared to its average volume of 3,742,357. The company's fifty day moving average price is $477.04 and its two-hundred day moving average price is $425.84. CrowdStrike has a 52 week low of $235.60 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. The stock has a market cap of $107.40 billion, a PE ratio of -624.14 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (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 the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. CrowdStrike's revenue was up 19.8% on a year-over-year basis. On average, analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal 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.