Ritholtz Wealth Management Raises Stock Position in CrowdStrike (NASDAQ:CRWD)

Ritholtz Wealth Management increased its stake in CrowdStrike (NASDAQ:CRWD) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,824 shares of the company’s stock after purchasing an additional 736 shares during the quarter. Ritholtz Wealth Management’s holdings in CrowdStrike were worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CRWD. Norges Bank purchased a new position in shares of CrowdStrike during the 4th quarter worth $1,111,542,000. GAMMA Investing LLC boosted its stake in shares of CrowdStrike by 50,536.2% during the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock worth $383,132,000 after acquiring an additional 1,084,506 shares during the last quarter. Pathstone Holdings LLC grew its holdings in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock valued at $440,116,000 after purchasing an additional 1,017,678 shares during the last quarter. Raymond James Financial Inc. bought a new position in CrowdStrike during the 4th quarter valued at about $237,375,000. Finally, Voya Investment Management LLC grew its holdings in CrowdStrike by 43.5% during the 4th quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company’s stock valued at $657,106,000 after purchasing an additional 582,471 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Trading Up 2.6%

NASDAQ CRWD opened at $492.03 on Wednesday. The company has a fifty day simple moving average of $434.17 and a two-hundred day simple moving average of $394.15. The stock has a market cap of $122.64 billion, a P/E ratio of -713.09 and a beta of 1.16. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $493.20. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on CRWD shares. Canaccord Genuity Group reiterated a “hold” rating and set a $475.00 price target (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. The Goldman Sachs Group upped their price target on shares of CrowdStrike from $389.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Sanford C. Bernstein downgraded shares of CrowdStrike from an “outperform” rating to a “market perform” rating and set a $371.00 price target on the stock. in a report on Friday, June 6th. UBS Group reiterated a “buy” rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Finally, Oppenheimer upped their target price on shares of CrowdStrike from $410.00 to $520.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus target price of $453.17.

Insider Transactions at CrowdStrike

In other CrowdStrike news, President Michael Sentonas sold 25,000 shares of the stock in a transaction 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 transaction, the president now directly owns 422,204 shares of the company’s stock, valued at $201,391,308. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurtz sold 55,556 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the transaction, the chief executive officer now directly owns 2,192,610 shares in the company, valued at approximately $981,280,679.40. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,861 shares of company stock worth $109,595,558 over the last 90 days. 3.32% of the stock is currently owned by company insiders.

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.