Envestnet Portfolio Solutions Inc. Trims Stock Holdings in CrowdStrike $CRWD

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of CrowdStrike (NASDAQ:CRWD) by 41.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,274 shares of the company’s stock after selling 2,325 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CrowdStrike were worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CRWD. Asset Planning Inc bought a new stake in CrowdStrike during the 3rd quarter valued at $25,000. AlphaQuest LLC purchased a new stake in CrowdStrike during the second quarter valued at approximately $26,000. Howard Hughes Medical Institute acquired a new stake in shares of CrowdStrike in the 2nd quarter worth $27,000. Pinnacle Bancorp Inc. acquired a new stake in CrowdStrike in the third quarter worth about $27,000. Finally, Financial Gravity Companies Inc. acquired a new stake in CrowdStrike in the 2nd quarter worth approximately $33,000. Institutional investors own 71.16% of the company’s stock.

Insider Buying and Selling at CrowdStrike

In related news, CAO Anurag Saha sold 836 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $476.83, for a total transaction of $398,629.88. Following the completion of the sale, the chief accounting officer owned 43,726 shares in the company, valued at $20,849,868.58. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael Sentonas sold 11,461 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total transaction of $5,498,758.58. Following the sale, the president owned 342,655 shares of the company’s stock, valued at $164,399,015.90. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 69,048 shares of company stock worth $34,509,857. 3.32% of the stock is currently owned by corporate insiders.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $468.33 on Tuesday. The stock’s 50-day moving average is $483.92 and its two-hundred day moving average is $477.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.81. CrowdStrike has a 1-year low of $298.00 and a 1-year high of $566.90. The company has a market cap of $118.07 billion, a price-to-earnings ratio of -371.69, a price-to-earnings-growth ratio of 109.85 and a beta of 1.03.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRWD has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of CrowdStrike in a research note on Tuesday, January 20th. KeyCorp reiterated a “sector weight” rating on shares of CrowdStrike in a research report on Monday, January 12th. Needham & Company LLC boosted their price target on CrowdStrike from $535.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. UBS Group upped their price objective on shares of CrowdStrike from $580.00 to $590.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Finally, Susquehanna upped their target price on CrowdStrike from $530.00 to $600.00 and gave the company a “positive” rating in a report on Wednesday, December 3rd. Thirty-one analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus price target of $555.21.

About CrowdStrike

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.