Icon Wealth Advisors LLC Raises Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Icon Wealth Advisors LLC lifted its holdings in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 3,218.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,907 shares of the company’s stock after buying an additional 55,192 shares during the period. CrowdStrike comprises 0.6% of Icon Wealth Advisors LLC’s holdings, making the stock its 21st largest holding. Icon Wealth Advisors LLC’s holdings in CrowdStrike were worth $15,961,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC grew its stake in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. International Assets Investment Management LLC lifted its stake in CrowdStrike by 17,926.3% in the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after acquiring an additional 920,695 shares during the period. Bank of New York Mellon Corp grew its holdings in CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after acquiring an additional 564,662 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of CrowdStrike by 248.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after purchasing an additional 371,695 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of CrowdStrike by 429.2% in the 2nd quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock worth $114,360,000 after purchasing an additional 242,052 shares during the period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRWD has been the subject of a number of recent research reports. HSBC raised shares of CrowdStrike from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $302.00 to $339.00 in a research note on Friday, August 30th. Stifel Nicolaus boosted their target price on shares of CrowdStrike from $300.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Scotiabank cut their price objective on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Hsbc Global Res raised shares of CrowdStrike from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $400.00 price target on shares of CrowdStrike in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.33.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $357.55 on Friday. The company has a fifty day moving average of $305.77 and a two-hundred day moving average of $311.53. CrowdStrike Holdings, Inc. has a fifty-two week low of $200.81 and a fifty-two week high of $398.33. The stock has a market capitalization of $87.65 billion, a PE ratio of 518.19, a P/E/G ratio of 23.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same period last year, the company posted $0.06 EPS. CrowdStrike’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, research analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the transaction, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Michael Sentonas sold 10,776 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the transaction, the president now directly owns 400,390 shares in the company, valued at approximately $119,027,939.20. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by 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.