Mitsubishi UFJ Asset Management UK Ltd. Sells 5,500 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. has reduced its stock position in CrowdStrike by 64.7% in the first quarter, now owning only 3,000 shares, following the sale of 5,500 shares.
• Several hedge funds increased their positions in CrowdStrike during the first quarter, with notable increases from Atlantic Edge Private Wealth Management LLC (114.3%) and E Fund Management Hong Kong Co. Ltd. (305.3%).
• CrowdStrike's stock price performance includes a 52-week low of $242.25 and a high of $517.98, with an average target price of $461.17 according to analysts.

Mitsubishi UFJ Asset Management UK Ltd. cut its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 64.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company's stock after selling 5,500 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in CrowdStrike were worth $1,058,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CRWD. Cloud Capital Management LLC acquired a new stake in shares of CrowdStrike in the 1st quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC lifted its position in CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Vision Financial Markets LLC acquired a new position in CrowdStrike during the 1st quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of CrowdStrike by 305.3% in the first 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 period. Finally, Neo Ivy Capital Management acquired a new position in shares of CrowdStrike during the 1st quarter worth about $30,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Price Performance

CrowdStrike stock traded up $3.04 during trading hours on Friday, hitting $427.90. 2,262,855 shares of the stock were exchanged, compared to its average volume of 2,735,901. 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 stock has a market capitalization of $106.65 billion, a P/E ratio of 10,621.50 and a beta of 1.13. CrowdStrike has a 12 month low of $242.25 and a 12 month high of $517.98. The business's 50-day moving average is $473.60 and its two-hundred day moving average is $426.66.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business earned $0.93 earnings per share. CrowdStrike's quarterly revenue was up 19.8% on a year-over-year basis. Equities research analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRWD. Sanford C. Bernstein lowered CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price on the stock. in a report on Friday, June 6th. Mizuho increased their price objective on CrowdStrike from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group boosted their target price on shares of CrowdStrike from $389.00 to $530.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Bank of America reissued a "neutral" rating and issued a $470.00 price target (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Finally, Macquarie started coverage on shares of CrowdStrike in a report on Thursday, July 17th. They set a "neutral" rating and a $465.00 price objective on the stock. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $461.17.

Insiders Place Their Bets

In related news, Director Denis Oleary sold 15,680 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $468.93, for a total value of $7,352,822.40. Following the transaction, the director directly owned 36,906 shares in the company, valued at $17,306,330.58. This represents a 29.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Burt W. Podbere sold 11,883 shares of the 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 approximately $105,272,781.10. This trade represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 214,414 shares of company stock valued at $101,484,738 over the last three months. 3.32% of the stock is owned by insiders.

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.