CrowdStrike (NASDAQ:CRWD) Stake Reduced by Sterling Investment Advisors Ltd.

Key Points

• Sterling Investment Advisors Ltd. reduced its position in CrowdStrike by 4.3%, holding 24,316 shares worth approximately $8.57 million as of the latest SEC filing.
• Several hedge funds increased their stakes in CrowdStrike, with Jennison Associates LLC raising its holding by 21.1%, now owning over 6.5 million shares valued at around $2.3 billion.
• As of the latest analysis, CrowdStrike has received mixed ratings from analysts, with one sell rating, nineteen hold ratings, and twenty-six buy ratings, indicating an average price target of $461.17.

Sterling Investment Advisors Ltd. lessened its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,316 shares of the company's stock after selling 1,100 shares during the quarter. CrowdStrike comprises 2.1% of Sterling Investment Advisors Ltd.'s investment portfolio, making the stock its 11th biggest holding. Sterling Investment Advisors Ltd.'s holdings in CrowdStrike were worth $8,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CRWD. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike in the first quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC raised 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 worth $26,000 after acquiring an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in 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 buying an additional 58 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of CrowdStrike in the first quarter valued at about $30,000. Finally, Sound Income Strategies LLC boosted its holdings in 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 purchasing an additional 38 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRWD shares. Barclays set a $500.00 target price on shares of CrowdStrike in a research report on Tuesday, June 3rd. Cantor Fitzgerald boosted their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, May 30th. UBS Group reissued a "buy" rating on shares of CrowdStrike in a research report on Tuesday, June 3rd. BMO Capital Markets boosted their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group raised their price target on shares of CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $461.17.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD traded up $0.18 during mid-day trading on Wednesday, hitting $465.69. 1,017,173 shares of the company were exchanged, compared to its average volume of 3,781,166. 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 stock has a 50 day simple moving average of $478.91 and a 200-day simple moving average of $420.72. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98. The firm has a market cap of $116.07 billion, a price-to-earnings ratio of -675.43 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. CrowdStrike's revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO George Kurtz sold 17,525 shares of CrowdStrike stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $477.62, for a total value of $8,370,290.50. Following the transaction, the chief executive officer directly owned 2,175,154 shares of the company's stock, valued at $1,038,897,053.48. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $512.43, for a total value of $3,202,687.50. Following the completion of the transaction, the director directly owned 781,011 shares in the company, valued at $400,213,466.73. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,820 shares of company stock worth $113,297,985 over the last ninety days. Insiders own 3.32% of the company's stock.

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.