Alliancebernstein L.P. Raises Holdings in CrowdStrike $CRWD

Alliancebernstein L.P. raised its position in CrowdStrike (NASDAQ:CRWD) by 1.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 329,818 shares of the company’s stock after purchasing an additional 5,396 shares during the period. Alliancebernstein L.P. owned 0.13% of CrowdStrike worth $161,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carnegie Investment Counsel raised its holdings in shares of CrowdStrike by 6.7% during the 3rd quarter. Carnegie Investment Counsel now owns 22,601 shares of the company’s stock worth $11,083,000 after acquiring an additional 1,428 shares during the period. Silver Oak Securities Incorporated boosted its position in shares of CrowdStrike by 394.8% during the 3rd quarter. Silver Oak Securities Incorporated now owns 2,954 shares of the company’s stock valued at $1,449,000 after acquiring an additional 2,357 shares during the last quarter. Traynor Capital Management Inc. grew its holdings in shares of CrowdStrike by 10.9% in the third quarter. Traynor Capital Management Inc. now owns 53,117 shares of the company’s stock valued at $26,047,000 after purchasing an additional 5,205 shares during the period. GPS Wealth Strategies Group LLC grew its holdings in shares of CrowdStrike by 7.3% in the third quarter. GPS Wealth Strategies Group LLC now owns 22,253 shares of the company’s stock valued at $10,912,000 after purchasing an additional 1,512 shares during the period. Finally, Perpetual Ltd increased its position in CrowdStrike by 205.9% during the third quarter. Perpetual Ltd now owns 1,554 shares of the company’s stock worth $762,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

Analyst Upgrades and Downgrades

CRWD has been the topic of several recent analyst reports. Needham & Company LLC decreased their target price on shares of CrowdStrike from $575.00 to $475.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Piper Sandler upgraded shares of CrowdStrike from a “neutral” rating to an “overweight” rating and set a $520.00 price target for the company in a report on Monday, March 2nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price target on shares of CrowdStrike in a research report on Wednesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $550.00 price objective on shares of CrowdStrike in a report on Wednesday, March 4th. Finally, Guggenheim reiterated a “neutral” rating on shares of CrowdStrike in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus price target of $506.26.

Insider Activity at CrowdStrike

In other news, CAO Anurag Saha sold 1,530 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $479.78, for a total transaction of $734,063.40. Following the sale, the chief accounting officer owned 44,562 shares of the company’s stock, valued at approximately $21,379,956.36. This represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 10,516 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $483.33, for a total transaction of $5,082,698.28. Following the completion of the transaction, the chief financial officer directly owned 179,114 shares of the company’s stock, valued at approximately $86,571,169.62. The trade was a 5.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,024 shares of company stock worth $40,424,241 over the last ninety days. Company insiders own 3.32% of the company’s stock.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $423.84 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $107.49 billion, a P/E ratio of -572.75, a P/E/G ratio of 19.38 and a beta of 1.07. The firm’s 50 day moving average price is $427.97 and its 200-day moving average price is $469.88. CrowdStrike has a one year low of $298.00 and a one year high of $566.90.

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

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.