Mitsubishi UFJ Asset Management Co. Ltd. Purchases 53,378 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in CrowdStrike (NASDAQ:CRWD) by 12.5% in the first quarter, holding 480,885 shares valued at approximately $169.55 million.
• Analysts have set new price targets for CrowdStrike, with Stephens raising their objective from $450 to $540, while Goldman Sachs now targets $530, indicating a strong interest from institutional investors in the stock.
• Despite a recent 0.1% decline in share price, CrowdStrike's stock traded at $424.49, maintaining a notable market cap of $105.80 billion and a PE ratio of -615.20.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in CrowdStrike (NASDAQ:CRWD - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480,885 shares of the company's stock after acquiring an additional 53,378 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of CrowdStrike worth $169,550,000 at the end of the most recent quarter.

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

CrowdStrike Price Performance

NASDAQ:CRWD traded up $6.34 during trading hours on Monday, reaching $430.83. 1,180,450 shares of the company's stock were exchanged, compared to its average volume of 3,742,770. The business's 50-day simple moving average is $477.04 and its two-hundred day simple moving average is $425.84. CrowdStrike has a 12 month low of $235.60 and a 12 month high of $517.98. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $107.38 billion, a P/E ratio of -624.38 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.93 EPS. The company's revenue was up 19.8% on a year-over-year basis. Sell-side analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRWD. Oppenheimer raised their price target on CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. DA Davidson raised their price target on CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. DZ Bank lowered CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price target for the company. in a research report on Thursday, May 22nd. Piper Sandler lowered CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price target for the company. in a research report on Monday, July 7th. Finally, Truist Financial restated a "buy" rating and set a $500.00 price target (up from $450.00) on shares of CrowdStrike in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, CrowdStrike presently has an average rating of "Moderate Buy" and a consensus target price of $461.17.

Insider Buying and Selling

In other news, CEO George Kurtz sold 42,267 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were 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 in the company, valued at approximately $960,801,606.89. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Burt W. Podbere sold 11,883 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total transaction of $5,412,350.01. Following the completion of the sale, the chief financial officer owned 231,130 shares in the company, valued at $105,272,781.10. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,414 shares of company stock worth $101,484,738. Insiders own 3.32% of the company's stock.

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.