Financial Advocates Investment Management Sells 2,893 Shares of CrowdStrike $CRWD

by · The Markets Daily

Financial Advocates Investment Management cut its stake in shares of CrowdStrike (NASDAQ:CRWD – Free Report) by 42.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,956 shares of the company’s stock after selling 2,893 shares during the quarter. Financial Advocates Investment Management’s holdings in CrowdStrike were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRWD. Laurel Wealth Advisors LLC increased its stake in shares of CrowdStrike by 54,635.9% in the second quarter. Laurel Wealth Advisors LLC now owns 4,293,484 shares of the company’s stock worth $2,186,714,000 after purchasing an additional 4,285,640 shares in the last quarter. Nuveen LLC purchased a new stake in CrowdStrike in the 1st quarter worth $595,766,000. Vestor Capital LLC raised its holdings in CrowdStrike by 269,840.3% during the second quarter. Vestor Capital LLC now owns 977,184 shares of the company’s stock valued at $497,690,000 after acquiring an additional 976,822 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CrowdStrike by 52.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company’s stock valued at $977,149,000 after acquiring an additional 955,529 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of CrowdStrike by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company’s stock worth $8,051,011,000 after acquiring an additional 908,554 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD opened at $512.34 on Wednesday. The firm has a fifty day simple moving average of $510.53 and a two-hundred day simple moving average of $475.95. CrowdStrike has a 52 week low of $298.00 and a 52 week high of $566.90. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $128.58 billion, a P/E ratio of -430.53, a PEG ratio of 119.10 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD – Get Free Report) last announced its earnings results on Wednesday, August 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.10. CrowdStrike had a negative net margin of 6.84% and a negative return on equity of 1.53%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $1.04 EPS. The business’s revenue was up 21.4% compared to the same quarter last year. On average, analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Arete Research set a $706.00 target price on CrowdStrike in a research note on Tuesday, October 28th. Barclays lifted their price objective on shares of CrowdStrike from $515.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Jefferies Financial Group boosted their target price on shares of CrowdStrike from $515.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Arete raised shares of CrowdStrike from a “neutral” rating to a “buy” rating and set a $706.00 target price for the company in a research note on Tuesday, October 28th. Finally, BTIG Research lifted their price target on shares of CrowdStrike from $489.00 to $640.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, CrowdStrike currently has an average rating of “Moderate Buy” and an average price target of $539.38.

Check Out Our Latest Report on CRWD

Insider Activity at CrowdStrike

In other CrowdStrike news, CFO Burt W. Podbere sold 1,957 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $550.41, for a total transaction of $1,077,152.37. Following the sale, the chief financial officer directly owned 218,467 shares in the company, valued at $120,246,421.47. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Johanna Flower sold 2,347 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $490.98, for a total value of $1,152,330.06. Following the completion of the sale, the director directly owned 79,057 shares of the company’s stock, valued at $38,815,405.86. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,622 shares of company stock valued at $58,561,456 over the last ninety days. 3.32% of the stock is currently owned by company insiders.

CrowdStrike Profile

(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.

See Also

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