Summit Global Investments Lowers Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Summit Global Investments cut its stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 55.9% during the third quarter, HoldingsChannel reports. The fund owned 2,760 shares of the company’s stock after selling 3,497 shares during the quarter. Summit Global Investments’ holdings in CrowdStrike were worth $774,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRWD. Vanguard Group Inc. raised its holdings in CrowdStrike by 2.0% in the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after purchasing an additional 315,280 shares in the last quarter. Legal & General Group Plc lifted its position in CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in CrowdStrike by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock valued at $696,471,000 after acquiring an additional 77,100 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in CrowdStrike by 47.5% in the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of CrowdStrike by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,112,272 shares of the company’s stock worth $426,212,000 after purchasing an additional 9,564 shares in the last quarter. 71.16% of the stock is owned by institutional investors.

Insider Transactions at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the transaction, the insider now owns 179,091 shares in the company, valued at approximately $46,563,660. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the insider now directly owns 179,091 shares in the company, valued at approximately $46,563,660. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $500,322.24. Following the completion of the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,248 shares of company stock worth $32,143,350 in the last ninety days. Insiders own 4.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRWD. Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of CrowdStrike in a research note on Monday, September 30th. The Goldman Sachs Group dropped their price target on CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. DA Davidson reaffirmed a “buy” rating and issued a $310.00 price objective on shares of CrowdStrike in a research report on Wednesday, September 18th. BNP Paribas started coverage on shares of CrowdStrike in a research report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 target price on the stock. Finally, Raymond James lowered their price objective on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. One 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $328.74.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD opened at $330.03 on Friday. The business’s 50 day moving average price is $289.62 and its 200-day moving average price is $308.66. CrowdStrike Holdings, Inc. has a 1 year low of $189.12 and a 1 year high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $80.90 billion, a PE ratio of 478.30, a P/E/G ratio of 21.64 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, equities research analysts expect that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current fiscal year.

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.