Victory Capital Management Inc. Reduces Holdings in CrowdStrike (NASDAQ:CRWD)

Victory Capital Management Inc. lessened its holdings in CrowdStrike (NASDAQ:CRWD - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234,566 shares of the company's stock after selling 58,074 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of CrowdStrike worth $82,703,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bridgewater Advisors Inc. acquired a new position in shares of CrowdStrike during the first quarter worth about $669,000. Larson Financial Group LLC lifted its stake in CrowdStrike by 73.2% in the first quarter. Larson Financial Group LLC now owns 2,356 shares of the company's stock worth $831,000 after acquiring an additional 996 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in CrowdStrike by 23.0% during the 1st quarter. Sage Mountain Advisors LLC now owns 851 shares of the company's stock worth $300,000 after acquiring an additional 159 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in CrowdStrike by 11.1% during the 1st quarter. Wealthfront Advisers LLC now owns 21,449 shares of the company's stock worth $7,562,000 after acquiring an additional 2,146 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of CrowdStrike by 4.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,815 shares of the company's stock valued at $3,813,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company's stock.

CrowdStrike Stock Performance

Shares of CRWD stock traded up $6.13 during trading hours on Friday, reaching $475.96. 2,901,063 shares of the company's stock were exchanged, compared to its average volume of 4,756,174. 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 moving average is $473.24 and its two-hundred day moving average is $413.85. The company has a market cap of $118.63 billion, a P/E ratio of 11,745.75 and a beta of 1.16. CrowdStrike has a 1 year low of $200.81 and a 1 year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. CrowdStrike's revenue 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 fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on CRWD. JMP Securities reiterated a "market outperform" rating and set a $500.00 target price on shares of CrowdStrike in a research note on Wednesday, June 4th. Evercore ISI reaffirmed an "in-line" rating and set a $440.00 price objective (down from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Jefferies Financial Group increased their price objective on CrowdStrike from $410.00 to $520.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and set a $485.00 target price (up previously from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Finally, Stephens upped their price target on CrowdStrike from $450.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $456.60.

Insiders Place Their Bets

In related news, CFO Burt W. Podbere sold 16,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the sale, the chief financial officer owned 249,653 shares of the company's stock, valued at approximately $109,068,402.64. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael Sentonas sold 25,000 shares of CrowdStrike stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the sale, the president owned 422,204 shares of the company's stock, valued at approximately $201,391,308. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,294 shares of company stock worth $118,670,500. 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.