Zurcher Kantonalbank Zurich Cantonalbank Sells 47,865 Shares of CrowdStrike (NASDAQ:CRWD)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of CrowdStrike (NASDAQ:CRWD) by 26.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,074 shares of the company’s stock after selling 47,865 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CrowdStrike were worth $46,567,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of CrowdStrike by 21.1% in the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after purchasing an additional 1,144,295 shares during the period. Geode Capital Management LLC increased its stake in shares of CrowdStrike by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after purchasing an additional 124,984 shares during the period. Northern Trust Corp increased its stake in shares of CrowdStrike by 16.6% in the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company’s stock worth $777,292,000 after purchasing an additional 324,136 shares during the period. FMR LLC increased its stake in shares of CrowdStrike by 15.0% in the fourth quarter. FMR LLC now owns 2,204,171 shares of the company’s stock worth $754,179,000 after purchasing an additional 287,960 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of CrowdStrike by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,938,331 shares of the company’s stock worth $663,221,000 after purchasing an additional 206,159 shares during the period. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $467.92 on Monday. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $517.98. The firm has a 50 day moving average of $477.89 and a 200-day moving average of $419.54. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $116.63 billion, a P/E ratio of -678.14 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD) last posted 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. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. CrowdStrike’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, Director Denis Oleary sold 15,680 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $468.93, for a total value of $7,352,822.40. Following the completion of the transaction, the director owned 36,906 shares in the company, valued at $17,306,330.58. The trade was a 29.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 18,858 shares of the company’s stock, valued at $9,385,060.86. This trade represents a 44.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,820 shares of company stock worth $113,297,985 over the last ninety days. 3.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CRWD. DA Davidson lifted their price objective on CrowdStrike from $415.00 to $530.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. JMP Securities reiterated a “market outperform” rating and issued a $500.00 price objective on shares of CrowdStrike in a research note on Wednesday, June 4th. Royal Bank Of Canada lifted their price objective on CrowdStrike from $500.00 to $510.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Sanford C. Bernstein downgraded CrowdStrike from an “outperform” rating to a “market perform” rating and set a $371.00 target price on the stock. in a research report on Friday, June 6th. Finally, BMO Capital Markets lifted their target price on CrowdStrike from $405.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $461.17.

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.