Wedbush Securities Inc. Raises Holdings in CrowdStrike $CRWD

Wedbush Securities Inc. grew its stake in shares of CrowdStrike (NASDAQ:CRWD) by 25.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,181 shares of the company’s stock after acquiring an additional 2,094 shares during the quarter. Wedbush Securities Inc.’s holdings in CrowdStrike were worth $4,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CRWD. Advyzon Investment Management LLC grew its holdings in shares of CrowdStrike by 142.9% during the second quarter. Advyzon Investment Management LLC now owns 906 shares of the company’s stock valued at $461,000 after buying an additional 533 shares during the last quarter. Carnegie Investment Counsel raised its stake in CrowdStrike by 6.7% in the 3rd quarter. Carnegie Investment Counsel now owns 22,601 shares of the company’s stock worth $11,083,000 after acquiring an additional 1,428 shares during the last quarter. Silver Oak Securities Incorporated lifted its position in CrowdStrike by 394.8% during the 3rd quarter. Silver Oak Securities Incorporated now owns 2,954 shares of the company’s stock worth $1,449,000 after acquiring an additional 2,357 shares during the period. Traynor Capital Management Inc. lifted its position in CrowdStrike by 10.9% during the 3rd quarter. Traynor Capital Management Inc. now owns 53,117 shares of the company’s stock worth $26,047,000 after acquiring an additional 5,205 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in CrowdStrike by 7.3% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 22,253 shares of the company’s stock valued at $10,912,000 after purchasing an additional 1,512 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Price Performance

NASDAQ:CRWD opened at $415.81 on Thursday. 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 company has a 50 day moving average price of $464.22 and a 200-day moving average price of $474.00. CrowdStrike has a 1-year low of $298.00 and a 1-year high of $566.90. The firm has a market cap of $104.82 billion, a price-to-earnings ratio of -330.01, a price-to-earnings-growth ratio of 23.66 and a beta of 1.03.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.96 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $0.93 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis. Equities research analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of CrowdStrike in a research note on Monday, December 1st. JPMorgan Chase & Co. raised their price target 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. Daiwa Securities Group lifted their price objective on shares of CrowdStrike from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Loop Capital set a $550.00 price objective on shares of CrowdStrike in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of CrowdStrike in a report on Monday, December 29th. Thirty-one investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $553.73.

Insider Buying and Selling

In other CrowdStrike news, CEO George Kurtz sold 28,853 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $413.01, for a total transaction of $11,916,577.53. Following the transaction, the chief executive officer owned 2,054,902 shares in the company, valued at approximately $848,695,075.02. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denis Oleary sold 7,750 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $515.44, for a total value of $3,994,660.00. Following the completion of the sale, the director directly owned 10,816 shares in the company, valued at approximately $5,574,999.04. The trade was a 41.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,247 shares of company stock worth $45,722,274 in the last ninety days. 3.32% of the stock is owned by corporate insiders.

CrowdStrike Company Profile

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.