Assetmark Inc. Decreases Stock Holdings in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Assetmark Inc. trimmed its position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 90.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 308 shares of the company’s stock after selling 2,793 shares during the quarter. Assetmark Inc.’s holdings in CrowdStrike were worth $86,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Abich Financial Wealth Management LLC purchased a new stake in shares of CrowdStrike during the second quarter valued at about $25,000. Family Firm Inc. purchased a new stake in shares of CrowdStrike during the second quarter valued at about $30,000. Itau Unibanco Holding S.A. acquired a new position in shares of CrowdStrike during the second quarter valued at about $33,000. Unique Wealth Strategies LLC acquired a new position in shares of CrowdStrike during the second quarter valued at about $36,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of CrowdStrike during the second quarter valued at about $38,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRWD shares. Guggenheim downgraded shares of CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Robert W. Baird cut their price objective on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. KeyCorp upped their price objective on shares of CrowdStrike from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, TD Cowen cut their price target on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average price target of $328.74.

Insider Activity

In related news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. The trade was a 4.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the sale, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is currently owned by insiders.

CrowdStrike Trading Down 2.2 %

Shares of CRWD opened at $336.75 on Monday. CrowdStrike Holdings, Inc. has a 52-week low of $198.86 and a 52-week high of $398.33. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $297.79 and its two-hundred day moving average is $310.36. The stock has a market cap of $82.55 billion, a PE ratio of 488.04, a price-to-earnings-growth ratio of 22.77 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. Research analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current fiscal 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.