Financial Advocates Investment Management Sells 2,893 Shares of CrowdStrike $CRWD

Financial Advocates Investment Management lessened its holdings in shares of CrowdStrike (NASDAQ:CRWD) by 42.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,956 shares of the company’s stock after selling 2,893 shares during the period. Financial Advocates Investment Management’s holdings in CrowdStrike were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AlphaQuest LLC purchased a new position in CrowdStrike during the 2nd quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of CrowdStrike during the second quarter valued at $33,000. Financial Management Professionals Inc. grew its holdings in shares of CrowdStrike by 91.9% in the second quarter. Financial Management Professionals Inc. now owns 71 shares of the company’s stock worth $36,000 after purchasing an additional 34 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in CrowdStrike in the 2nd quarter worth about $37,000. Finally, Vision Financial Markets LLC bought a new stake in CrowdStrike during the 1st quarter valued at about $26,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Trading Up 1.1%

Shares of NASDAQ CRWD opened at $512.34 on Wednesday. CrowdStrike has a 1-year low of $298.00 and a 1-year high of $566.90. The business has a fifty day moving average price of $510.53 and a 200 day moving average price of $475.95. The stock has a market capitalization of $128.58 billion, a P/E ratio of -430.53, a price-to-earnings-growth ratio of 119.10 and a beta of 1.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Wednesday, August 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.10. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. CrowdStrike had a negative return on equity of 1.53% and a negative net margin of 6.84%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Equities research analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Sanford C. Bernstein dropped their target price on shares of CrowdStrike from $371.00 to $343.00 and set a “market perform” rating on the stock in a research note on Thursday, August 28th. Arete raised CrowdStrike from a “neutral” rating to a “buy” rating and set a $706.00 price objective on the stock in a research note on Tuesday, October 28th. Stephens raised their price objective on CrowdStrike from $525.00 to $590.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. BMO Capital Markets upped their target price on CrowdStrike from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Canaccord Genuity Group raised their price target on CrowdStrike from $430.00 to $500.00 and gave the company a “hold” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $539.38.

Insiders Place Their Bets

In other CrowdStrike news, Director Johanna Flower sold 2,347 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $490.98, for a total value of $1,152,330.06. Following the completion of the sale, the director directly owned 79,057 shares in the company, valued at $38,815,405.86. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameer K. Gandhi sold 5,000 shares of CrowdStrike stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $550.20, for a total transaction of $2,751,000.00. Following the completion of the transaction, the director directly owned 765,456 shares in the company, valued at $421,153,891.20. This represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 116,622 shares of company stock worth $58,561,456. Insiders own 3.32% of the company’s stock.

CrowdStrike Company 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.