NewEdge Advisors LLC Sells 3,983 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

NewEdge Advisors LLC reduced its position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 17.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,773 shares of the company’s stock after selling 3,983 shares during the period. NewEdge Advisors LLC’s holdings in CrowdStrike were worth $7,194,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Burney Co. purchased a new position in shares of CrowdStrike in the 1st quarter worth about $1,342,000. Principal Financial Group Inc. boosted its stake in shares of CrowdStrike by 429.2% during the second quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock valued at $114,360,000 after purchasing an additional 242,052 shares during the period. BNP Paribas purchased a new stake in shares of CrowdStrike during the first quarter valued at approximately $2,685,000. Swedbank AB purchased a new stake in CrowdStrike in the first quarter worth $73,972,000. Finally, Wellington Management Group LLP lifted its stake in CrowdStrike by 5,452.5% in the fourth quarter. Wellington Management Group LLP now owns 144,532 shares of the company’s stock worth $36,902,000 after acquiring an additional 141,929 shares during the period. 71.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRWD. Royal Bank of Canada reduced their price target on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus lowered their price objective on CrowdStrike from $400.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets lifted their price objective on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer decreased their target price on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Argus decreased their target price on CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $326.50.

Insider Transactions at CrowdStrike

In related news, CEO George Kurtz sold 55,325 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the sale, the chief executive officer now directly owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total value of $1,040,000.00. Following the transaction, the insider now owns 179,091 shares in the company, valued at approximately $46,563,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO George Kurtz sold 55,325 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the sale, the chief executive officer now directly owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,962 shares of company stock worth $28,774,798. 4.34% of the stock is currently owned by insiders.

CrowdStrike Stock Performance

Shares of CRWD opened at $280.47 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $68.26 billion, a price-to-earnings ratio of 529.19, a PEG ratio of 19.60 and a beta of 1.09. The company’s 50 day simple moving average is $259.96 and its 200 day simple moving average is $310.56. CrowdStrike Holdings, Inc. has a 1 year low of $160.86 and a 1 year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, sell-side analysts predict that CrowdStrike Holdings, Inc. will post 0.53 EPS for the current year.

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.