QRG Capital Management Inc. Decreases Position in CrowdStrike (NASDAQ:CRWD)

QRG Capital Management Inc. trimmed its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,271 shares of the company's stock after selling 3,824 shares during the quarter. QRG Capital Management Inc.'s holdings in CrowdStrike were worth $15,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. grew its stake in shares of CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock worth $28,000 after buying an additional 73 shares during the last quarter. Sound Income Strategies LLC grew its stake 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 during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of CrowdStrike during the fourth quarter worth $34,000. Millstone Evans Group LLC bought a new stake in shares of CrowdStrike during the fourth quarter worth $34,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of 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 buying an additional 81 shares during the last quarter. Institutional investors own 71.16% of the company's stock.

Analyst Ratings Changes

CRWD has been the topic of a number of research reports. Sanford C. Bernstein cut shares of CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price on the stock. in a research note on Friday, June 6th. Wedbush upped their price target on CrowdStrike from $475.00 to $525.00 and gave the company an "outperform" rating in a research report on Tuesday, June 3rd. Westpark Capital reiterated a "hold" rating on shares of CrowdStrike in a research report on Thursday, June 5th. Canaccord Genuity Group reiterated a "hold" rating and issued a $475.00 price target (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group upped their price target on CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike currently has an average rating of "Moderate Buy" and an average target price of $453.17.

Insider Buying and Selling

In other CrowdStrike news, President Michael Sentonas sold 13,543 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.62, for a total value of $4,856,790.66. Following the sale, the president now directly owns 405,308 shares in the company, valued at $145,351,554.96. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $324.16, for a total transaction of $2,026,000.00. Following the sale, the director now owns 768,092 shares in the company, valued at approximately $248,984,702.72. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,861 shares of company stock valued at $109,595,558. Company insiders own 3.32% of the company's stock.

CrowdStrike Stock Performance

Shares of CrowdStrike stock traded down $6.87 on Wednesday, reaching $485.16. 2,825,785 shares of the company traded hands, compared to its average volume of 5,006,881. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $493.22. The company has a 50 day moving average of $434.17 and a 200 day moving average of $394.15. The firm has a market capitalization of $120.93 billion, a PE 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.

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 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $0.93 EPS. The company's revenue was up 19.8% compared to the same quarter last year. Equities analysts forecast 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.