Alphabet Inc. Reduces Stock Position in CrowdStrike (NASDAQ:CRWD)

Alphabet Inc. lessened its stake in CrowdStrike (NASDAQ:CRWD) by 82.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,230 shares of the company’s stock after selling 353,665 shares during the period. CrowdStrike accounts for approximately 1.7% of Alphabet Inc.’s portfolio, making the stock its 14th largest position. Alphabet Inc.’s holdings in CrowdStrike were worth $26,172,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of CrowdStrike by 20.4% during the first quarter. Blue Trust Inc. now owns 1,267 shares of the company’s stock worth $447,000 after buying an additional 215 shares during the period. Primoris Wealth Advisors LLC acquired a new stake in shares of CrowdStrike during the fourth quarter worth about $2,166,000. OLD National Bancorp IN acquired a new stake in shares of CrowdStrike during the first quarter worth about $248,000. Bessemer Group Inc. boosted its stake in shares of CrowdStrike by 4.6% during the first quarter. Bessemer Group Inc. now owns 2,221 shares of the company’s stock worth $783,000 after buying an additional 98 shares during the period. Finally, Financial Engines Advisors L.L.C. acquired a new stake in shares of CrowdStrike during the fourth quarter worth about $284,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CRWD. Westpark Capital restated a “hold” rating on shares of CrowdStrike in a research report on Thursday, June 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $485.00 target price (up from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. BTIG Research reissued a “buy” rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Cantor Fitzgerald raised their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Finally, Royal Bank Of Canada raised their target price on shares of CrowdStrike from $500.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $456.29.

Insider Transactions at CrowdStrike

In related news, CFO Burt W. Podbere sold 16,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the sale, the chief financial officer owned 249,653 shares in the company, valued at $109,068,402.64. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis Oleary sold 15,680 shares of the stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 253,221 shares of company stock valued at $117,687,463 over the last quarter. Insiders own 3.32% of the company’s stock.

CrowdStrike Stock Performance

Shares of CrowdStrike stock opened at $478.45 on Monday. The firm has a market cap of $119.25 billion, a PE ratio of -693.41 and a beta of 1.16. The firm’s 50-day simple moving average is $470.20 and its 200-day simple moving average is $411.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $517.98.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 EPS. Equities analysts forecast that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

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.