Pegasus Asset Management Inc. Buys New Shares in CrowdStrike (NASDAQ:CRWD)

Pegasus Asset Management Inc. bought a new position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,352 shares of the company's stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRWD. Vanguard Group Inc. increased its position in shares of CrowdStrike by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company's stock valued at $7,502,204,000 after purchasing an additional 342,294 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CrowdStrike by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after buying an additional 124,984 shares in the last quarter. Norges Bank acquired a new position in shares of CrowdStrike in the 4th quarter valued at $1,111,542,000. Northern Trust Corp boosted its holdings in shares of CrowdStrike by 16.6% in the 4th quarter. Northern Trust Corp now owns 2,271,722 shares of the company's stock valued at $777,292,000 after buying an additional 324,136 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of CrowdStrike by 15.0% in the 4th quarter. FMR LLC now owns 2,204,171 shares of the company's stock valued at $754,179,000 after buying an additional 287,960 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO George Kurtz sold 55,556 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total value of $24,863,532.24. Following the completion of the transaction, the chief executive officer now owns 2,192,610 shares of the company's stock, valued at $981,280,679.40. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael Sentonas sold 13,543 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $4,856,790.66. Following the completion of the transaction, the president now directly owns 405,308 shares of the company's stock, valued at approximately $145,351,554.96. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,861 shares of company stock valued at $109,595,558 over the last 90 days. Insiders own 3.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRWD shares. BMO Capital Markets upped their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. KeyCorp lowered their target price on shares of CrowdStrike from $480.00 to $450.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Barclays set a $500.00 target price on shares of CrowdStrike in a report on Tuesday, June 3rd. Needham & Company LLC increased their price target on shares of CrowdStrike from $420.00 to $530.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial reissued an "outperform" rating and set a $485.00 price objective (up from $390.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $453.17.

CrowdStrike Price Performance

Shares of NASDAQ CRWD traded down $6.87 on Thursday, hitting $485.16. The company's stock had a trading volume of 2,825,785 shares, compared to its average volume of 5,006,881. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $493.20. The company has a market capitalization of $120.93 billion, a price-to-earnings ratio of -703.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a 50 day moving average of $438.65 and a 200-day moving average of $395.73.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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. The company's revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts predict that CrowdStrike will post 0.55 EPS for the current 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.