WESPAC Advisors SoCal LLC Invests $998,000 in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

by · The Markets Daily

WESPAC Advisors SoCal LLC acquired a new position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,557 shares of the company’s stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRWD. Abich Financial Wealth Management LLC bought a new stake in CrowdStrike during the second quarter worth about $25,000. Family Firm Inc. purchased a new position in shares of CrowdStrike during the 2nd quarter valued at about $30,000. Itau Unibanco Holding S.A. bought a new stake in CrowdStrike in the 2nd quarter worth approximately $33,000. Unique Wealth Strategies LLC purchased a new stake in CrowdStrike in the second quarter worth approximately $36,000. Finally, Hobbs Group Advisors LLC bought a new position in CrowdStrike during the second quarter valued at approximately $38,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

CRWD stock opened at $336.75 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50 day moving average price of $297.79 and a 200-day moving average price of $310.25. CrowdStrike Holdings, Inc. has a 52-week low of $198.86 and a 52-week high of $398.33. The firm has a market capitalization of $82.55 billion, a price-to-earnings ratio of 488.04, a PEG ratio of 23.52 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Guggenheim cut CrowdStrike from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of CrowdStrike in a research note on Thursday, September 19th. Finally, Jefferies Financial Group raised their price target on CrowdStrike from $315.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $328.74.

Check Out Our Latest Analysis on CRWD

Insider Buying and Selling at CrowdStrike

In related news, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Sentonas sold 10,776 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $3,203,489.28. Following the completion of the transaction, the president now directly owns 400,390 shares in the company, valued at $119,027,939.20. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is owned by corporate insiders.

About CrowdStrike

(Free Report)

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.

Further Reading

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