Wedbush Securities Inc. Boosts Stake in CrowdStrike (NASDAQ:CRWD)

Wedbush Securities Inc. raised its position in shares of CrowdStrike (NASDAQ:CRWD) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,107 shares of the company’s stock after acquiring an additional 293 shares during the period. Wedbush Securities Inc.’s holdings in CrowdStrike were worth $7,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management boosted its position in shares of CrowdStrike by 63.0% in the first quarter. Triumph Capital Management now owns 4,376 shares of the company’s stock worth $1,543,000 after buying an additional 1,691 shares during the period. WESPAC Advisors SoCal LLC boosted its position in shares of CrowdStrike by 24.9% in the first quarter. WESPAC Advisors SoCal LLC now owns 3,972 shares of the company’s stock worth $1,400,000 after buying an additional 793 shares during the period. Roundview Capital LLC purchased a new stake in shares of CrowdStrike in the first quarter worth about $211,000. Close Asset Management Ltd lifted its stake in shares of CrowdStrike by 23.8% in the first quarter. Close Asset Management Ltd now owns 130 shares of the company’s stock worth $46,000 after acquiring an additional 25 shares in the last quarter. Finally, Legato Capital Management LLC lifted its stake in shares of CrowdStrike by 120.0% in the first quarter. Legato Capital Management LLC now owns 11,000 shares of the company’s stock worth $3,878,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Down 2.1%

CRWD stock opened at $471.23 on Wednesday. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $517.98. The company has a market cap of $117.45 billion, a PE ratio of -682.94 and a beta of 1.16. The business’s 50-day simple moving average is $474.54 and its 200 day simple moving average is $415.76. 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 (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In other CrowdStrike news, CEO George Kurtz sold 55,556 shares of CrowdStrike stock in a transaction 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 completion of the sale, the chief executive officer owned 2,192,610 shares of the company’s stock, valued at approximately $981,280,679.40. The trade was a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roxanne S. Austin sold 15,000 shares of CrowdStrike stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $497.67, for a total transaction of $7,465,050.00. Following the sale, the director directly owned 18,858 shares of the company’s stock, valued at $9,385,060.86. This represents a 44.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,320 shares of company stock valued at $117,592,485 in the last ninety days. 3.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CRWD shares. Bank of America reiterated a “neutral” rating and issued a $470.00 price target (up previously from $420.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Cfra restated a “hold” rating and set a $555.00 price objective (up previously from $517.00) on shares of CrowdStrike in a research note on Thursday, July 10th. Royal Bank Of Canada upped their price objective on CrowdStrike from $500.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Jefferies Financial Group upped their price objective on CrowdStrike from $410.00 to $520.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $495.00 price objective (up previously from $490.00) on shares of CrowdStrike in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $460.93.

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.