CrowdStrike (NASDAQ:CRWD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of CrowdStrike (NASDAQ:CRWD) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 263,504 shares of the company’s stock after selling 24,558 shares during the quarter. Federated Hermes Inc.’s holdings in CrowdStrike were worth $92,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of CrowdStrike by 21.1% in the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after acquiring an additional 1,144,295 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CrowdStrike by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock valued at $1,712,063,000 after purchasing an additional 124,984 shares during the last quarter. Northern Trust Corp grew its holdings in shares of CrowdStrike by 16.6% during the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company’s stock valued at $777,292,000 after purchasing an additional 324,136 shares during the last quarter. FMR LLC grew its holdings in shares of CrowdStrike by 15.0% during the fourth quarter. FMR LLC now owns 2,204,171 shares of the company’s stock valued at $754,179,000 after purchasing an additional 287,960 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of CrowdStrike by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,938,331 shares of the company’s stock valued at $663,221,000 after purchasing an additional 206,159 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

Shares of CrowdStrike stock opened at $465.51 on Wednesday. The company’s fifty day simple moving average is $478.91 and its two-hundred day simple moving average is $420.72. The firm has a market cap of $116.03 billion, a PE ratio of -674.65 and a beta of 1.16. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $517.98.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts expect that CrowdStrike will post 0.55 EPS for the current year.

Insider Activity

In related news, Director Denis Oleary sold 15,680 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the sale, the director owned 36,906 shares of the company’s stock, valued at $17,306,330.58. This represents a 29.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the president directly owned 422,204 shares in the company, valued at approximately $201,391,308. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,820 shares of company stock valued at $113,297,985 in the last quarter. Company insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

CRWD has been the subject of several analyst reports. Cfra reiterated a “hold” rating and set a $555.00 price objective (up from $517.00) on shares of CrowdStrike in a research report on Thursday, July 10th. Mizuho boosted their price objective on CrowdStrike from $425.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Jefferies Financial Group increased their price objective on CrowdStrike from $520.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Cantor Fitzgerald boosted their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Finally, Macquarie started coverage on shares of CrowdStrike in a research note on Thursday, July 17th. They set a “neutral” rating and a $465.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $461.17.

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.