Zevenbergen Capital Investments LLC Decreases Position in CrowdStrike (NASDAQ:CRWD)

Key Points

• Zevenbergen Capital Investments LLC decreased its holdings in CrowdStrike (NASDAQ:CRWD) by 3.4%, selling 10,201 shares to own 286,141 shares worth approximately $100.89 million.
• Wall Street analysts are largely optimistic about CrowdStrike, with twenty-six analysts rating it a "buy" and a consensus target price of $461.17.
• Insider trading activity includes sales by director Sameer K. Gandhi and director Roxanne S. Austin, with insiders selling a total of 214,414 shares worth over $101 million in the last quarter.

Zevenbergen Capital Investments LLC reduced its position in CrowdStrike (NASDAQ:CRWD - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,141 shares of the company's stock after selling 10,201 shares during the quarter. CrowdStrike makes up about 2.5% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 15th largest holding. Zevenbergen Capital Investments LLC owned approximately 0.12% of CrowdStrike worth $100,888,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CRWD. Blue Trust Inc. raised its position 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 purchasing an additional 215 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new stake in shares of CrowdStrike in the 4th quarter valued at $2,166,000. OLD National Bancorp IN bought a new position in shares of CrowdStrike in the 1st quarter worth about $248,000. Bessemer Group Inc. raised its holdings in CrowdStrike by 4.6% during the 1st quarter. Bessemer Group Inc. now owns 2,221 shares of the company's stock valued at $783,000 after acquiring an additional 98 shares during the period. Finally, CX Institutional bought a new position in shares of CrowdStrike during the first quarter valued at about $175,000. Hedge funds and other institutional investors own 71.16% of the company's stock.

Insider Activity

In other CrowdStrike news, Director Roxanne S. Austin sold 15,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total value of $7,465,050.00. Following the completion of the sale, the director owned 18,858 shares of the company's stock, valued at approximately $9,385,060.86. This trade represents a 44.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Sentonas sold 25,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total value of $11,925,000.00. Following the completion of the sale, the president directly owned 422,204 shares of the company's stock, valued at approximately $201,391,308. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,414 shares of company stock valued at $101,484,738. 3.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on CRWD shares. 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 note on Wednesday, June 4th. DA Davidson increased their price objective on shares of CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Morgan Stanley restated an "equal weight" rating and issued a $495.00 target price (up previously from $490.00) on shares of CrowdStrike in a research note on Monday, July 14th. UBS Group reaffirmed a "buy" rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company boosted their price objective on CrowdStrike from $430.00 to $550.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, CrowdStrike has an average rating of "Moderate Buy" and a consensus price target of $461.17.

CrowdStrike Price Performance

NASDAQ CRWD traded down $0.51 during trading hours on Friday, reaching $424.49. The company's stock had a trading volume of 3,626,057 shares, compared to its average volume of 2,730,743. The company's 50-day moving average is $477.04 and its two-hundred day moving average is $425.84. 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 firm has a market capitalization of $105.80 billion, a price-to-earnings ratio of -615.20 and a beta of 1.13. CrowdStrike has a 1-year low of $235.60 and a 1-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 EPS 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the company posted $0.93 earnings per share. The company's quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts predict that CrowdStrike will post 0.55 EPS for the current year.

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.