TCW Group Inc. Sells 41,975 Shares of CrowdStrike (NASDAQ:CRWD)

Key Points

• TCW Group Inc. reduced its stake in CrowdStrike by 9.5%, selling 41,975 shares, and now holds a total of 401,211 shares valued at approximately $141.5 million.
• During Q1, other institutional investors like Jennison Associates LLC and GAMMA Investing LLC significantly increased their holdings in CrowdStrike, reflecting strong interest from the market.
• According to analysts, CrowdStrike has a current average rating of "Moderate Buy" and multiple firms have set price targets ranging from $371 to $500 for the stock.

TCW Group Inc. lowered its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,211 shares of the company's stock after selling 41,975 shares during the quarter. CrowdStrike accounts for about 1.3% of TCW Group Inc.'s investment portfolio, making the stock its 20th biggest holding. TCW Group Inc. owned about 0.16% of CrowdStrike worth $141,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of CrowdStrike by 20.4% in the 1st quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock valued at $447,000 after acquiring an additional 215 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new stake in CrowdStrike in the 4th quarter worth $2,166,000. OLD National Bancorp IN purchased a new position in shares of CrowdStrike in the 1st quarter worth $248,000. Bessemer Group Inc. boosted its stake in shares of CrowdStrike by 4.6% during the first quarter. Bessemer Group Inc. now owns 2,221 shares of the company's stock valued at $783,000 after purchasing an additional 98 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in CrowdStrike in the fourth quarter valued at about $284,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Stock Up 0.0%

NASDAQ CRWD traded up $0.19 during midday trading on Wednesday, hitting $465.70. 1,033,276 shares of the company traded hands, compared to its average volume of 3,781,340. The company has a market cap of $116.07 billion, a PE ratio of -674.92 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. The company's 50-day simple moving average is $478.91 and its 200-day simple moving average is $420.72. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98.

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 analysts' consensus estimates of $0.66 by $0.07. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The firm's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CRWD shares. Cfra reiterated a "hold" rating and issued a $555.00 price objective (up previously from $517.00) on shares of CrowdStrike in a report on Thursday, July 10th. BTIG Research reaffirmed a "buy" rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Wedbush boosted their price target on CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a research note 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, Sanford C. Bernstein cut CrowdStrike from an "outperform" rating to a "market perform" rating and set a $371.00 price target on the stock. in a research note on Friday, June 6th. One equities 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's stock. Based on data from MarketBeat.com, CrowdStrike has an average rating of "Moderate Buy" and a consensus target price of $461.17.

Insider Activity

In related news, CAO Anurag Saha sold 1,768 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total transaction of $869,449.36. Following the transaction, the chief accounting officer directly owned 41,251 shares of the company's stock, valued at approximately $20,286,004.27. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roxanne S. Austin sold 9,447 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the sale, the director directly owned 18,858 shares of the company's stock, valued at approximately $9,667,553.70. This represents a 33.38% 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 in the last quarter. 3.32% of the stock is currently owned by corporate insiders.

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.