State of Michigan Retirement System Grows Position in CrowdStrike (NASDAQ:CRWD)

State of Michigan Retirement System increased its holdings in CrowdStrike (NASDAQ:CRWD - Free Report) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,800 shares of the company's stock after purchasing an additional 3,600 shares during the period. State of Michigan Retirement System's holdings in CrowdStrike were worth $23,552,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CRWD. Brighton Jones LLC increased its position in CrowdStrike by 44.9% during the fourth quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock valued at $2,670,000 after acquiring an additional 2,417 shares during the last quarter. Assetmark Inc. increased its position in CrowdStrike by 69.5% during the fourth quarter. Assetmark Inc. now owns 522 shares of the company's stock valued at $179,000 after acquiring an additional 214 shares during the last quarter. Proficio Capital Partners LLC bought a new position in CrowdStrike during the fourth quarter valued at $254,000. Johnson Investment Counsel Inc. increased its position in CrowdStrike by 4.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 830 shares of the company's stock valued at $284,000 after acquiring an additional 35 shares during the last quarter. Finally, AGF Management Ltd. bought a new position in CrowdStrike during the fourth quarter valued at $410,000. Institutional investors own 71.16% of the company's stock.

Insider Activity

In other news, CEO George Kurtz sold 55,556 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the transaction, the chief executive officer owned 2,192,610 shares in the company, valued at $981,280,679.40. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Sentonas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the completion of the transaction, the president owned 422,204 shares in the company, valued at approximately $201,391,308. This trade represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,821 shares of company stock valued at $118,672,681. 3.32% of the stock is owned by company insiders.

CrowdStrike Stock Down 1.8%

Shares of CRWD traded down $8.66 during mid-day trading on Friday, hitting $478.45. 3,377,761 shares of the company traded hands, compared to its average volume of 4,771,281. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $119.25 billion, a PE ratio of -693.41 and a beta of 1.16. The business has a 50 day moving average of $470.20 and a 200 day moving average of $410.72.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company's revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts anticipate that CrowdStrike will post 0.55 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI reiterated an "in-line" rating and set a $440.00 price objective (down previously from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Westpark Capital reiterated a "hold" rating on shares of CrowdStrike in a research report on Thursday, June 5th. Truist Financial reissued a "buy" rating and set a $500.00 target price (up from $450.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Sanford C. Bernstein lowered shares of CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 target price for the company. in a research note on Friday, June 6th. Finally, Cfra reissued a "hold" rating and set a $555.00 target price (up from $517.00) on shares of CrowdStrike in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $456.29.

CrowdStrike 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.