Grassi Investment Management Boosts Stock Holdings in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Grassi Investment Management increased its position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 50.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,050 shares of the company’s stock after purchasing an additional 350 shares during the quarter. Grassi Investment Management’s holdings in CrowdStrike were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRWD. Vanguard Group Inc. increased its position in shares of CrowdStrike by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock valued at $7,502,204,000 after acquiring an additional 342,294 shares during the last quarter. Geode Capital Management LLC raised its position in CrowdStrike by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after acquiring an additional 124,984 shares during the period. Norges Bank purchased a new stake in shares of CrowdStrike during the 4th quarter worth approximately $1,111,542,000. Northern Trust Corp increased its position in CrowdStrike by 16.6% in the fourth quarter. Northern Trust Corp now owns 2,271,722 shares of the company’s stock worth $777,292,000 after buying an additional 324,136 shares during the last quarter. Finally, FMR LLC increased its position in CrowdStrike by 15.0% in the fourth quarter. FMR LLC now owns 2,204,171 shares of the company’s stock worth $754,179,000 after buying an additional 287,960 shares during the last quarter. 71.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRWD has been the topic of several recent research reports. Needham & Company LLC upped their price objective on shares of CrowdStrike from $420.00 to $530.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $500.00 price objective (up from $450.00) on shares of CrowdStrike in a report on Wednesday. Robert W. Baird lowered their target price on shares of CrowdStrike from $440.00 to $405.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company raised their price target on CrowdStrike from $430.00 to $550.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus boosted their price objective on CrowdStrike from $480.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $449.38.

Insider Buying and Selling at CrowdStrike

In related news, Director Gerhard Watzinger sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the completion of the transaction, the director now owns 29,500 shares of the company’s stock, valued at $14,425,500. This trade represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $353.00, for a total transaction of $1,588,500.00. Following the completion of the transaction, the insider now owns 89,714 shares of the company’s stock, valued at approximately $31,669,042. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock worth $87,081,236 over the last quarter. Insiders own 3.32% of the company’s stock.

CrowdStrike Stock Down 5.8%

Shares of CRWD stock opened at $460.56 on Thursday. CrowdStrike Holdings, Inc. has a 52 week low of $200.81 and a 52 week high of $491.20. The stock has a market cap of $114.16 billion, a P/E ratio of 903.08, a PEG ratio of 17.86 and a beta of 1.22. The company’s fifty day simple moving average is $410.85 and its two-hundred day simple moving average is $386.40. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. Analysts predict that CrowdStrike Holdings, Inc. will post 0.55 EPS for the current fiscal year.

CrowdStrike Company Profile

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.