Empire Life Investments Inc. Cuts Stock Holdings in CrowdStrike (NASDAQ:CRWD)

Empire Life Investments Inc. trimmed its stake in shares of CrowdStrike (NASDAQ:CRWD) by 7.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,464 shares of the company’s stock after selling 212 shares during the period. Empire Life Investments Inc.’s holdings in CrowdStrike were worth $869,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Jennison Associates LLC grew its stake in CrowdStrike by 21.1% during the first quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock valued at $2,314,785,000 after acquiring an additional 1,144,295 shares in the last quarter. Northern Trust Corp grew its stake in CrowdStrike by 16.6% during the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company’s stock valued at $777,292,000 after acquiring an additional 324,136 shares in the last quarter. FMR LLC grew its stake in CrowdStrike by 15.0% during the fourth quarter. FMR LLC now owns 2,204,171 shares of the company’s stock valued at $754,179,000 after acquiring an additional 287,960 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in CrowdStrike by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,938,331 shares of the company’s stock valued at $663,221,000 after acquiring an additional 206,159 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in CrowdStrike by 43.5% during the fourth quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company’s stock valued at $657,106,000 after acquiring an additional 582,471 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Trading Down 1.7%

NASDAQ CRWD opened at $446.66 on Monday. CrowdStrike has a one year low of $200.81 and a one year high of $517.98. The firm has a 50 day simple moving average of $479.51 and a 200-day simple moving average of $423.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $111.33 billion, a price-to-earnings ratio of -647.33 and a beta of 1.13.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRWD has been the subject of a number of recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $485.00 price objective (up from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Stifel Nicolaus lifted their price objective on shares of CrowdStrike from $480.00 to $495.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Wells Fargo & Company lifted their price objective on shares of CrowdStrike from $430.00 to $550.00 and gave the stock an “overweight” rating in a research note on Monday, June 2nd. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a research note on Thursday, June 5th. Finally, Rosenblatt Securities lifted their price objective on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. One investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $461.17.

Insiders Place Their Bets

In other news, Director Johanna Flower sold 2,073 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $474.21, for a total value of $983,037.33. Following the sale, the director directly owned 81,383 shares in the company, valued at approximately $38,592,632.43. This trade represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 9,447 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the completion of the sale, the director owned 18,858 shares in the company, valued at $9,667,553.70. The trade was a 33.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 154,014 shares of company stock worth $74,238,060. 3.32% of the stock is currently owned by insiders.

CrowdStrike 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.