PNC Financial Services Group Inc. Purchases 11,749 Shares of CrowdStrike (NASDAQ:CRWD)

PNC Financial Services Group Inc. boosted its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,515 shares of the company's stock after purchasing an additional 11,749 shares during the quarter. PNC Financial Services Group Inc.'s holdings in CrowdStrike were worth $35,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CRWD. Cloud Capital Management LLC bought a new position in shares of CrowdStrike during the first quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC increased its holdings 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 valued at $26,000 after acquiring an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings 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 valued at $27,000 after acquiring an additional 58 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of CrowdStrike during the first quarter valued at $30,000. Finally, Sound Income Strategies LLC increased its holdings in shares of CrowdStrike by 77.6% during the first quarter. Sound Income Strategies LLC now owns 87 shares of the company's stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein downgraded 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. 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. Cantor Fitzgerald increased their price objective on CrowdStrike from $440.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company increased their price objective on CrowdStrike from $430.00 to $550.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Raymond James Financial reaffirmed 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. One investment 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $461.17.

Insider Activity at CrowdStrike

In related news, CEO George Kurtz sold 17,525 shares of CrowdStrike stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $477.62, for a total transaction of $8,370,290.50. Following the sale, the chief executive officer owned 2,175,154 shares of the company's stock, valued at approximately $1,038,897,053.48. This trade represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 9,447 shares of CrowdStrike stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 $9,667,553.70. This trade represents a 33.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,014 shares of company stock worth $74,238,060 in the last three months. Corporate insiders own 3.32% of the company's stock.

CrowdStrike Stock Down 1.7%

NASDAQ CRWD opened at $446.66 on Monday. The stock's 50-day moving average price is $479.51 and its 200-day moving average price is $423.31. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98. The company has a market capitalization of $111.33 billion, a P/E ratio of -647.33 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 the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, equities research analysts predict that CrowdStrike will post 0.55 earnings per share 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.

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