Pinnacle Associates Ltd. Has $7.71 Million Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• Pinnacle Associates Ltd. increased its holdings in CrowdStrike by 3.6% in Q1, bringing their total position to nearly $7.71 million.
• Insider selling activity includes Director Johanna Flower, who sold 2,073 shares for approximately $983,000, reducing their ownership by 2.48%.
• Analysts have varied opinions on CrowdStrike, with the average target price set at $461.17, indicating a mix of buy, hold, and sell ratings affecting investor sentiment.

Pinnacle Associates Ltd. raised its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,879 shares of the company's stock after acquiring an additional 768 shares during the quarter. Pinnacle Associates Ltd.'s holdings in CrowdStrike were worth $7,714,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CRWD. Cloud Capital Management LLC acquired a new stake in shares of CrowdStrike during the first quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of CrowdStrike by 114.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of CrowdStrike by 77.6% during the first quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock worth $31,000 after buying an additional 38 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in CrowdStrike by 426.3% during the first quarter. ST Germain D J Co. Inc. now owns 100 shares of the company's stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company's stock.

Insider Buying and Selling

In other news, Director Johanna Flower sold 2,073 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $474.21, for a total value of $983,037.33. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,768 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total value of $869,449.36. Following the completion of the sale, the chief accounting officer directly owned 41,251 shares of the company's stock, valued at approximately $20,286,004.27. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,820 shares of company stock valued at $113,297,985. Insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler cut CrowdStrike from an "overweight" rating to a "neutral" rating and set a $505.00 price objective on the stock. in a research note on Monday, July 7th. Wedbush boosted their price target on shares of CrowdStrike from $475.00 to $525.00 and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Sanford C. Bernstein downgraded shares of CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 price target for the company. in a report on Friday, June 6th. Needham & Company LLC boosted their price target on shares of CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group boosted their price target on shares of CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Stock Up 1.3%

CRWD stock traded up $5.89 during mid-day trading on Friday, reaching $467.92. The company had a trading volume of 1,788,951 shares, compared to its average volume of 2,689,736. 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 simple moving average of $477.89 and a two-hundred day simple moving average of $418.70. The company has a market capitalization of $116.63 billion, a price-to-earnings ratio of -678.14 and a beta of 1.16. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98.

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