Jennison Associates LLC Trims Holdings in CrowdStrike $CRWD

Jennison Associates LLC decreased its stake in shares of CrowdStrike (NASDAQ:CRWD) by 6.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,705,412 shares of the company’s stock after selling 407,688 shares during the period. CrowdStrike accounts for 1.6% of Jennison Associates LLC’s investment portfolio, making the stock its 16th largest position. Jennison Associates LLC owned about 2.27% of CrowdStrike worth $2,797,820,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of CrowdStrike by 44.9% in the fourth quarter. Brighton Jones LLC now owns 7,803 shares of the company’s stock worth $2,670,000 after buying an additional 2,417 shares in the last quarter. Empowered Funds LLC increased its holdings in CrowdStrike by 3.6% during the 1st quarter. Empowered Funds LLC now owns 4,812 shares of the company’s stock worth $1,697,000 after acquiring an additional 169 shares during the period. Ballentine Partners LLC lifted its stake in CrowdStrike by 1.3% in the 2nd quarter. Ballentine Partners LLC now owns 2,869 shares of the company’s stock worth $1,461,000 after purchasing an additional 36 shares in the last quarter. Mather Group LLC. boosted its holdings in CrowdStrike by 42.3% in the 2nd quarter. Mather Group LLC. now owns 1,496 shares of the company’s stock valued at $762,000 after purchasing an additional 445 shares during the period. Finally, Regatta Capital Group LLC purchased a new position in shares of CrowdStrike during the 2nd quarter valued at $207,000. Institutional investors own 71.16% of the company’s stock.

Insider Buying and Selling at CrowdStrike

In other news, CFO Burt W. Podbere sold 10,516 shares of CrowdStrike stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $483.33, for a total value of $5,082,698.28. Following the transaction, the chief financial officer owned 179,114 shares in the company, valued at approximately $86,571,169.62. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Sentonas sold 11,461 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $479.78, for a total value of $5,498,758.58. Following the completion of the sale, the president directly owned 342,655 shares of the company’s stock, valued at approximately $164,399,015.90. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 69,048 shares of company stock valued at $34,509,857. 3.32% of the stock is currently owned by insiders.

CrowdStrike Stock Down 0.3%

Shares of NASDAQ CRWD opened at $452.49 on Friday. CrowdStrike has a one year low of $298.00 and a one year high of $566.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.81. The firm’s 50 day simple moving average is $485.15 and its two-hundred day simple moving average is $478.42. The stock has a market capitalization of $114.07 billion, a P/E ratio of -359.12, a PEG ratio of 110.16 and a beta of 1.03.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $0.93 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that CrowdStrike will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

CRWD has been the topic of a number of recent analyst reports. Zacks Research downgraded CrowdStrike from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 24th. DA Davidson reaffirmed a “buy” rating and issued a $580.00 price target on shares of CrowdStrike in a report on Wednesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $630.00 price target on shares of CrowdStrike in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. upped their price objective on shares of CrowdStrike from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Finally, Truist Financial raised their target price on shares of CrowdStrike from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Thirty-one equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $555.21.

About CrowdStrike

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.