Westfield Capital Management Co. LP Has $37.07 Million Holdings in CrowdStrike (NASDAQ:CRWD)

Key Points

• Westfield Capital Management Co. LP sold 27,678 shares of CrowdStrike, reducing its holdings by 20.8%, resulting in a total of 105,130 shares.
• The company's latest quarterly earnings reported an EPS of $0.73, exceeding expectations, with revenue increasing 19.8% from the previous year.
• Insider trading activity has been notable, with CEO George Kurtz selling 17,525 shares recently, while institutional investors now own 71.16% of CrowdStrike's stock.

Westfield Capital Management Co. LP reduced its position in shares of CrowdStrike (NASDAQ:CRWD - Free Report) by 20.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,130 shares of the company's stock after selling 27,678 shares during the quarter. Westfield Capital Management Co. LP's holdings in CrowdStrike were worth $37,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in CrowdStrike by 20.4% during the first quarter. Blue Trust Inc. now owns 1,267 shares of the company's stock valued at $447,000 after buying an additional 215 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new position in CrowdStrike during the 4th quarter worth approximately $2,166,000. OLD National Bancorp IN acquired a new stake in CrowdStrike during the 1st quarter valued at $248,000. Bessemer Group Inc. lifted its holdings in shares of CrowdStrike by 4.6% in 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 in the last quarter. Finally, CX Institutional purchased a new position in shares of CrowdStrike during the first quarter valued at $175,000. Institutional investors own 71.16% of the company's stock.

CrowdStrike Stock Up 2.3%

NASDAQ CRWD traded up $9.94 during trading hours on Wednesday, reaching $451.69. 2,030,984 shares of the company's stock were exchanged, compared to its average volume of 2,633,956. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $112.58 billion, a price-to-earnings ratio of 11,043.75 and a beta of 1.13. The company's 50-day moving average is $478.89 and its two-hundred day moving average is $424.11. CrowdStrike has a one year low of $229.72 and a one year high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the business earned $0.93 EPS. The business's quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In related news, CFO Burt W. Podbere sold 10,714 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $469.49, for a total value of $5,030,115.86. Following the sale, the chief financial officer owned 239,008 shares in the company, valued at approximately $112,211,865.92. This represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurtz sold 17,525 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $477.62, for a total transaction of $8,370,290.50. Following the completion of the transaction, the chief executive officer directly owned 2,175,154 shares in the company, valued at $1,038,897,053.48. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,264 shares of company stock worth $77,032,372 in the last three months. 3.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CRWD shares. DA Davidson raised their price objective on CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an "equal weight" rating and set a $495.00 price objective (up from $490.00) on shares of CrowdStrike in a research report on Monday, July 14th. BMO Capital Markets lifted 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. Barclays set a $500.00 price target on shares of CrowdStrike in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group lifted their price objective on CrowdStrike from $389.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $461.17.

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.