Legato Capital Management LLC Buys 6,000 Shares of CrowdStrike (NASDAQ:CRWD)

Legato Capital Management LLC raised its holdings in shares of CrowdStrike (NASDAQ:CRWD) by 120.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,000 shares of the company’s stock after buying an additional 6,000 shares during the period. Legato Capital Management LLC’s holdings in CrowdStrike were worth $3,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of CrowdStrike in the first quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC boosted its position in shares of CrowdStrike by 114.3% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 40 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of CrowdStrike by 77.6% during the first quarter. Sound Income Strategies LLC now owns 87 shares of the company’s stock worth $31,000 after acquiring an additional 38 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of CrowdStrike during the fourth quarter worth $34,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO George Kurtz sold 55,556 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $447.54, for a total transaction of $24,863,532.24. Following the transaction, the chief executive officer directly owned 2,192,610 shares in the company, valued at approximately $981,280,679.40. This trade represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denis Oleary sold 15,680 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $468.93, for a total transaction of $7,352,822.40. Following the transaction, the director owned 36,906 shares in the company, valued at approximately $17,306,330.58. This trade represents a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,320 shares of company stock valued at $117,592,485 over the last three months. 3.32% of the stock is currently owned by insiders.

CrowdStrike Trading Down 2.1%

Shares of CRWD stock opened at $471.23 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $117.45 billion, a PE ratio of -682.94 and a beta of 1.16. The company has a 50-day moving average of $474.54 and a two-hundred day moving average of $415.76. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $517.98.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $1.10 billion for 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 business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, analysts predict that CrowdStrike will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRWD. Westpark Capital restated a “hold” rating on shares of CrowdStrike in a research report on Thursday, June 5th. Wells Fargo & Company increased their price objective on shares of CrowdStrike from $430.00 to $550.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. Citigroup reiterated an “outperform” rating on shares of CrowdStrike in a research report on Monday, May 5th. Sanford C. Bernstein lowered shares of CrowdStrike from an “outperform” rating to a “market perform” rating and set a $371.00 price objective for the company. in a research report on Friday, June 6th. Finally, Stephens increased their price objective on shares of CrowdStrike from $450.00 to $540.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus target price of $460.93.

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.