Edgestream Partners L.P. Makes New Investment in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Edgestream Partners L.P. acquired a new position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,618 shares of the company’s stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRWD. Trivant Custom Portfolio Group LLC purchased a new position in shares of CrowdStrike during the first quarter worth approximately $30,000. CVA Family Office LLC purchased a new position in CrowdStrike in the 4th quarter worth $26,000. Hexagon Capital Partners LLC bought a new stake in CrowdStrike in the fourth quarter worth $26,000. Future Financial Wealth Managment LLC purchased a new stake in CrowdStrike during the first quarter valued at about $32,000. Finally, MCF Advisors LLC bought a new position in shares of CrowdStrike during the first quarter valued at about $32,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their target price on CrowdStrike from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Wedbush lowered their price objective on shares of CrowdStrike from $390.00 to $385.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. DA Davidson cut their target price on CrowdStrike from $425.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Robert W. Baird dropped their price objective on CrowdStrike from $350.00 to $335.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Piper Sandler reduced their price objective on shares of CrowdStrike from $400.00 to $310.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $363.11.

CrowdStrike Stock Performance

CRWD traded down $7.22 during midday trading on Wednesday, reaching $261.66. The company had a trading volume of 7,633,162 shares, compared to its average volume of 4,919,020. CrowdStrike Holdings, Inc. has a 1 year low of $140.52 and a 1 year high of $398.33. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The company has a market cap of $63.68 billion, a P/E ratio of 498.10, a P/E/G ratio of 13.30 and a beta of 1.10. The business has a 50-day moving average of $359.35 and a two-hundred day moving average of $327.01.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Tuesday, June 4th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. As a group, equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In other CrowdStrike news, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the sale, the director now directly owns 18,297 shares of the company’s stock, valued at $7,136,012.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CrowdStrike news, CEO George Kurtz sold 56,279 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the sale, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the transaction, the director now directly owns 18,297 shares in the company, valued at approximately $7,136,012.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,675 shares of company stock worth $76,931,522. 4.34% of the stock is owned by corporate insiders.

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.