Gabelli Funds LLC Decreases Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Gabelli Funds LLC reduced its position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,307 shares of the company’s stock after selling 1,114 shares during the period. Gabelli Funds LLC’s holdings in CrowdStrike were worth $33,455,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of CrowdStrike by 2.0% during the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after buying an additional 315,280 shares in the last quarter. First Trust Advisors LP grew its position in shares of CrowdStrike by 19.3% in the fourth quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock valued at $565,461,000 after purchasing an additional 358,945 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in shares of CrowdStrike in the fourth quarter valued at approximately $450,418,000. Bank of New York Mellon Corp lifted its position in CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in CrowdStrike by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,112,272 shares of the company’s stock worth $426,212,000 after buying an additional 9,564 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Stock Up 8.1 %

Shares of NASDAQ:CRWD opened at $299.85 on Friday. CrowdStrike Holdings, Inc. has a fifty-two week low of $157.59 and a fifty-two week high of $398.33. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $265.90 and its 200-day simple moving average is $312.40. The company has a market cap of $72.97 billion, a price-to-earnings ratio of 565.75, a PEG ratio of 16.14 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

CRWD has been the subject of a number of recent research reports. HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and raised their target price for the stock from $302.00 to $339.00 in a research note on Friday, August 30th. Stifel Nicolaus cut their price objective on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Redburn Atlantic lowered shares of CrowdStrike from a “neutral” rating to a “sell” rating and decreased their target price for the company from $380.00 to $275.00 in a report on Thursday, July 18th. Scotiabank cut their price target on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Finally, Hsbc Global Res upgraded CrowdStrike from a “hold” rating to a “strong-buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and an average target price of $327.03.

Insider Activity at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 8,077 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $374.99, for a total value of $3,028,794.23. Following the completion of the transaction, the insider now owns 187,091 shares in the company, valued at $70,157,254.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sameer K. Gandhi sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $380.21, for a total value of $5,703,150.00. Following the completion of the transaction, the director now directly owns 824,234 shares of the company’s stock, valued at approximately $313,382,009.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 8,077 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $374.99, for a total value of $3,028,794.23. Following the completion of the sale, the insider now directly owns 187,091 shares in the company, valued at approximately $70,157,254.09. The disclosure for this sale can be found here. Insiders have sold a total of 45,577 shares of company stock worth $16,330,609 over the last three months. 4.34% of the stock is currently owned by corporate insiders.

CrowdStrike 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.