CrowdStrike (NASDAQ:CRWD) Shares Bought by Renaissance Investment Group LLC

Key Points

• Renaissance Investment Group LLC increased its holdings in CrowdStrike by 14.9% in the first quarter, owning 26,806 shares valued at approximately $9.45 million.
• CrowdStrike reported a quarterly earnings per share of $0.73, exceeding estimates of $0.66, with year-over-year revenue growth of 19.8%.
• Institutional investors own 71.16% of CrowdStrike stock, with analysts offering a mix of ratings, resulting in an average target price of $461.17.

Renaissance Investment Group LLC grew its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,806 shares of the company's stock after purchasing an additional 3,482 shares during the quarter. CrowdStrike comprises approximately 2.3% of Renaissance Investment Group LLC's investment portfolio, making the stock its 20th biggest position. Renaissance Investment Group LLC's holdings in CrowdStrike were worth $9,451,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike in the first quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC boosted its position in CrowdStrike by 114.3% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock valued at $26,000 after buying 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 worth $27,000 after buying an additional 58 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of CrowdStrike in the 1st quarter valued at $30,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of CrowdStrike by 77.6% during the 1st 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. Institutional investors own 71.16% of the company's stock.

Insider Transactions at CrowdStrike

In other news, Director Denis Oleary sold 15,680 shares of the company's stock in a transaction dated 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 approximately $17,306,330.58. This represents a 29.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roxanne S. Austin sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the transaction, the director directly owned 18,858 shares in the company, valued at approximately $9,385,060.86. This trade represents a 44.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,820 shares of company stock worth $113,297,985. 3.32% of the stock is currently owned by corporate insiders.

CrowdStrike Price Performance

NASDAQ CRWD traded down $2.36 during trading hours on Wednesday, reaching $463.15. The company's stock had a trading volume of 2,104,867 shares, compared to its average volume of 3,789,161. 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 1 year low of $200.81 and a 1 year high of $517.98. The firm's 50-day moving average price is $478.91 and its 200-day moving average price is $420.72. The company has a market capitalization of $115.44 billion, a price-to-earnings ratio of -671.23 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business's revenue was up 19.8% on a year-over-year basis. On average, equities research analysts predict that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRWD has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on CrowdStrike from $420.00 to $530.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on CrowdStrike from $430.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Oppenheimer lifted their target price on CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada increased their price target on shares of CrowdStrike from $500.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $475.00 price objective (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $461.17.

CrowdStrike Company Profile

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.