Alta Wealth Advisors LLC Decreases Stock Holdings in CrowdStrike (NASDAQ:CRWD)

Alta Wealth Advisors LLC lowered its position in CrowdStrike (NASDAQ:CRWD) by 12.3% during the first quarter, Holdings Channel reports. The institutional investor owned 993 shares of the company’s stock after selling 139 shares during the quarter. Alta Wealth Advisors LLC’s holdings in CrowdStrike were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRWD. Norges Bank acquired a new position in shares of CrowdStrike during the fourth quarter worth $1,111,542,000. GAMMA Investing LLC boosted its position in shares of CrowdStrike by 50,536.2% in the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock worth $383,132,000 after purchasing an additional 1,084,506 shares in the last quarter. Pathstone Holdings LLC grew its stake in CrowdStrike by 379.0% during the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock worth $440,116,000 after buying an additional 1,017,678 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CrowdStrike during the 4th quarter valued at about $237,375,000. Finally, Voya Investment Management LLC raised its stake in CrowdStrike by 43.5% in the fourth quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company’s stock valued at $657,106,000 after buying an additional 582,471 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Roth Capital boosted their price target on CrowdStrike from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada boosted their target price on shares of CrowdStrike from $500.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $500.00 price target on shares of CrowdStrike in a report on Wednesday, June 4th. Robert W. Baird lowered their price objective on shares of CrowdStrike from $440.00 to $405.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, Bank of America reissued a “neutral” rating and issued a $470.00 target price (up from $420.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $453.88.

CrowdStrike Trading Up 2.3%

CRWD opened at $505.22 on Friday. The firm has a market capitalization of $125.93 billion, a price-to-earnings ratio of -732.20 and a beta of 1.16. The company’s 50 day simple moving average is $449.61 and its two-hundred day simple moving average is $400.24. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $508.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. Analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $324.16, for a total transaction of $2,026,000.00. Following the transaction, the director now directly owns 768,092 shares of the company’s stock, valued at $248,984,702.72. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerhard Watzinger sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $359.57, for a total transaction of $3,595,700.00. Following the completion of the transaction, the director now owns 62,891 shares in the company, valued at $22,613,716.87. The trade was a 13.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,821 shares of company stock valued at $108,501,609 in the last three months. 3.32% of the stock is currently owned by insiders.

CrowdStrike 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.