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. raised its holdings in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,885 shares of the company's stock after acquiring an additional 53,378 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of CrowdStrike worth $169,550,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in CrowdStrike in the 1st quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in CrowdStrike in the 1st quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in CrowdStrike by 305.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in CrowdStrike in the 1st quarter worth approximately $30,000. Institutional investors own 71.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wedbush upped their price target on CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Macquarie assumed coverage on CrowdStrike in a report on Thursday, July 17th. They set a "neutral" rating and a $465.00 price target for the company. Barclays set a $500.00 price target on CrowdStrike in a report on Tuesday, June 3rd. BMO Capital Markets upped their price target on CrowdStrike from $405.00 to $500.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Jefferies Financial Group upped their price target on CrowdStrike from $520.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $461.17.

CrowdStrike Trading Down 0.1%

NASDAQ:CRWD traded down $0.51 during mid-day trading on Friday, hitting $424.49. The company had a trading volume of 3,626,057 shares, compared to its average volume of 2,718,355. CrowdStrike has a fifty-two week low of $235.60 and a fifty-two week high of $517.98. The business's fifty day moving average is $477.04 and its two-hundred day moving average is $425.17. 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 market cap of $105.80 billion, a P/E ratio of -615.20 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The company's quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts expect that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity at CrowdStrike

In other news, Director Johanna Flower sold 2,073 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $474.21, for a total transaction of $983,037.33. Following the sale, the director owned 81,383 shares of the company's stock, valued at $38,592,632.43. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 9,447 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total value of $4,843,004.55. Following the sale, the director directly owned 18,858 shares in the company, valued at approximately $9,667,553.70. This represents a 33.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,414 shares of company stock valued at $101,484,738 over the last 90 days. 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.