Ritholtz Wealth Management Raises Holdings in CrowdStrike (NASDAQ:CRWD)

Ritholtz Wealth Management grew its stake in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,824 shares of the company's stock after buying an additional 736 shares during the period. Ritholtz Wealth Management's holdings in CrowdStrike were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Primoris Wealth Advisors LLC purchased a new position in shares of CrowdStrike in the 4th quarter worth approximately $2,166,000. OLD National Bancorp IN purchased a new stake in shares of CrowdStrike in the first quarter valued at approximately $248,000. Arcadia Investment Management Corp MI increased its stake in shares of CrowdStrike by 30.8% during the fourth quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company's stock valued at $4,090,000 after buying an additional 2,814 shares during the period. Trifecta Capital Advisors LLC boosted its stake in shares of CrowdStrike by 2,140.3% during the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company's stock valued at $3,066,000 after purchasing an additional 8,561 shares in the last quarter. Finally, Delta Financial Group Inc. bought a new position in shares of CrowdStrike in the 4th quarter worth $336,000. Hedge funds and other institutional investors own 71.16% of the company's stock.

Insiders Place Their Bets

In other news, Director Roxanne S. Austin sold 10,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $482.50, for a total value of $4,825,000.00. Following the completion of the sale, the director now directly owns 18,297 shares of the company's stock, valued at approximately $8,828,302.50. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $324.16, for a total value of $2,026,000.00. Following the transaction, the director now directly owns 768,092 shares in the company, valued at approximately $248,984,702.72. This represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,861 shares of company stock valued at $109,595,558 over the last quarter. Company insiders own 3.32% of the company's stock.

CrowdStrike Stock Down 1.4%

Shares of CRWD traded down $6.87 during mid-day trading on Wednesday, reaching $485.16. The company's stock had a trading volume of 2,825,521 shares, compared to its average volume of 5,003,222. The company's 50 day moving average is $434.17 and its 200 day moving average is $394.15. The stock has a market cap of $120.93 billion, a PE ratio of -703.13 and a beta of 1.16. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $493.22. 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 issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping 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 previous year, the firm earned $0.93 EPS. The company's revenue was up 19.8% compared to the same quarter last year. Equities analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America reissued a "neutral" rating and set a $470.00 target price (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. The Goldman Sachs Group upped their target price on CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Evercore ISI restated an "in-line" rating and set a $440.00 price target (down previously from $450.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Susquehanna increased their price objective on shares of CrowdStrike from $425.00 to $530.00 and gave the company a "positive" rating in a research report on Wednesday, June 4th. Finally, Wedbush upped their price target on shares of CrowdStrike from $475.00 to $525.00 and gave the company an "outperform" rating in a research note on Tuesday, June 3rd. Two research 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. According to MarketBeat, CrowdStrike has a consensus rating of "Moderate Buy" and a consensus price target of $453.17.

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.