AIA Group Ltd Reduces Position in CrowdStrike (NASDAQ:CRWD)

AIA Group Ltd cut its stake in shares of CrowdStrike (NASDAQ:CRWD) by 17.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 640 shares of the company’s stock after selling 132 shares during the quarter. AIA Group Ltd’s holdings in CrowdStrike were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Motley Fool Asset Management LLC grew its holdings in shares of CrowdStrike by 3.6% during the first quarter. Motley Fool Asset Management LLC now owns 11,530 shares of the company’s stock valued at $4,065,000 after buying an additional 406 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of CrowdStrike by 1.0% during the first quarter. Meridian Wealth Management LLC now owns 13,400 shares of the company’s stock valued at $4,724,000 after buying an additional 137 shares during the last quarter. Paulson Wealth Management Inc. grew its holdings in shares of CrowdStrike by 56.1% during the first quarter. Paulson Wealth Management Inc. now owns 1,018 shares of the company’s stock valued at $359,000 after buying an additional 366 shares during the last quarter. SouthState Corp grew its holdings in shares of CrowdStrike by 71.3% during the first quarter. SouthState Corp now owns 459 shares of the company’s stock valued at $162,000 after buying an additional 191 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of CrowdStrike during the first quarter valued at $595,766,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRWD shares. Stephens boosted their price objective on shares of CrowdStrike from $450.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Canaccord Genuity Group reissued a “hold” rating and set a $475.00 price objective (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a report on Thursday, June 5th. Citigroup reaffirmed an “outperform” rating on shares of CrowdStrike in a report on Monday, May 5th. Finally, Mizuho upped their price target on shares of CrowdStrike from $425.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $461.17.

CrowdStrike Stock Up 2.2%

CRWD stock opened at $435.80 on Wednesday. The company has a market cap of $108.62 billion, a price-to-earnings ratio of -631.59 and a beta of 1.13. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 12 month low of $240.01 and a 12 month high of $517.98. The firm has a 50-day moving average of $474.93 and a two-hundred day moving average of $426.26.

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

Insider Buying and Selling

In other news, Director Johanna Flower sold 2,073 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $474.21, for a total transaction of $983,037.33. Following the completion of the sale, the director owned 81,383 shares in the company, valued at $38,592,632.43. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 9,447 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the sale, the director owned 18,858 shares of the company’s stock, valued at $9,667,553.70. This represents a 33.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,414 shares of company stock worth $101,484,738 in the last 90 days. Corporate insiders own 3.32% of the company’s stock.

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.