CIBC Private Wealth Group LLC Sells 55,733 Shares of CrowdStrike $CRWD

CIBC Private Wealth Group LLC lowered its stake in shares of CrowdStrike (NASDAQ:CRWDFree Report) by 84.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 10,360 shares of the company’s stock after selling 55,733 shares during the period. CIBC Private Wealth Group LLC’s holdings in CrowdStrike were worth $5,080,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new position in CrowdStrike during the third quarter valued at about $25,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of CrowdStrike in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new stake in shares of CrowdStrike during the 3rd quarter worth approximately $25,000. Logan Capital Management Inc. bought a new stake in shares of CrowdStrike during the third quarter valued at approximately $26,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of CrowdStrike during the second quarter valued at approximately $27,000. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Price Performance

CrowdStrike stock opened at $409.00 on Friday. The business’s 50-day simple moving average is $424.66 and its 200 day simple moving average is $469.31. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.17. CrowdStrike has a 12-month low of $298.00 and a 12-month high of $566.90. The stock has a market cap of $103.73 billion, a price-to-earnings ratio of -552.70, a P/E/G ratio of 18.78 and a beta of 1.06.

CrowdStrike (NASDAQ:CRWDGet Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. CrowdStrike had a negative return on equity of 0.14% and a negative net margin of 3.81%.The company’s revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. As a group, research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity

In other CrowdStrike news, Director Johanna Flower sold 3,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $461.94, for a total transaction of $1,385,820.00. Following the transaction, the director owned 76,082 shares in the company, valued at $35,145,319.08. This represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Sentonas sold 11,461 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total value of $5,498,758.58. Following the sale, the president directly owned 342,655 shares in the company, valued at $164,399,015.90. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 90,024 shares of company stock valued at $40,424,241. 3.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRWD has been the subject of several research reports. Citigroup reduced their target price on CrowdStrike from $610.00 to $525.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $550.00 price objective on shares of CrowdStrike in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $520.00 price objective on shares of CrowdStrike in a report on Wednesday, March 4th. DA Davidson lifted their target price on shares of CrowdStrike from $425.00 to $455.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Loop Capital set a $550.00 target price on shares of CrowdStrike in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $506.26.

Check Out Our Latest Stock Analysis on CrowdStrike

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CrowdStrike Profile

(Free Report)

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.

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Institutional Ownership by Quarter for CrowdStrike (NASDAQ:CRWD)

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