Meridiem Capital Partners LP Makes New Investment in CrowdStrike $CRWD

Key Points

• Meridiem Capital Partners acquired a new stake of 17,009 shares in CrowdStrike in Q3, valued at about $8.34 million, according to its most recent 13F filing.
• CrowdStrike reported quarterly EPS of $1.12 (vs. $1.10 est.) and revenue of $1.31 billion (+23.8% y/y); the stock trades around $445 with a market cap near $112.3 billion.
• Insiders have sold heavily recently—90,024 shares (~$40.4M) over three months, including CEO George Kurtz's sale of 28,853 shares (~$11.9M)—while analysts hold a consensus "Moderate Buy" rating with a $506.26 target.

Meridiem Capital Partners LP acquired a new stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,009 shares of the company's stock, valued at approximately $8,341,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in CrowdStrike in the third quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of CrowdStrike during the 3rd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new position in shares of CrowdStrike in the 2nd quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of CrowdStrike in the 3rd quarter valued at about $27,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of CrowdStrike in the second quarter worth about $33,000. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Price Performance

NASDAQ:CRWD traded up $3.74 during trading hours on Friday, hitting $445.28. 393,775 shares of the stock were exchanged, compared to its average volume of 3,935,224. The firm's fifty day moving average price is $428.86 and its 200 day moving average price is $469.15. CrowdStrike has a 52-week low of $298.00 and a 52-week high of $566.90. The company has a market cap of $112.26 billion, a P/E ratio of -601.64, a P/E/G ratio of 22.42 and a beta of 1.06. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.17.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. CrowdStrike had a negative return on equity of 0.14% and a negative net margin of 3.81%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The business's revenue was up 23.8% on a year-over-year basis. As a group, equities research analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, CAO Anurag Saha sold 836 shares of the company's stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $476.83, for a total transaction of $398,629.88. Following the completion of the sale, the chief accounting officer owned 43,726 shares of the company's stock, valued at $20,849,868.58. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurtz sold 28,853 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $413.01, for a total transaction of $11,916,577.53. Following the completion of the sale, the chief executive officer owned 2,054,902 shares of the company's stock, valued at $848,695,075.02. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 90,024 shares of company stock valued at $40,424,241. 3.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research upgraded CrowdStrike from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein upped their price objective on CrowdStrike from $353.00 to $368.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 4th. Citigroup dropped their price objective on shares of CrowdStrike from $610.00 to $525.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. BTIG Research cut their target price on shares of CrowdStrike from $640.00 to $499.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Finally, HSBC increased their price target on shares of CrowdStrike from $417.00 to $446.00 and gave the stock a "hold" rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $506.26.

CrowdStrike Profile

CrowdStrike Holdings, Inc NASDAQ: CRWD is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company's core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.

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