Sierra Summit Advisors LLC Raises Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Sierra Summit Advisors LLC increased its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,011 shares of the company’s stock after buying an additional 335 shares during the period. Sierra Summit Advisors LLC’s holdings in CrowdStrike were worth $5,752,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Burney Co. bought a new stake in shares of CrowdStrike in the 1st quarter worth approximately $1,342,000. Principal Financial Group Inc. lifted its position in shares of CrowdStrike by 429.2% during the 2nd quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock valued at $114,360,000 after buying an additional 242,052 shares during the last quarter. BNP Paribas bought a new position in shares of CrowdStrike during the 1st quarter worth $2,685,000. Swedbank AB purchased a new stake in CrowdStrike in the 1st quarter worth about $73,972,000. Finally, Coldstream Capital Management Inc. bought a new stake in CrowdStrike in the 4th quarter valued at about $508,000. Institutional investors own 71.16% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $632,607.06. Following the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total value of $1,040,000.00. Following the sale, the insider now owns 179,091 shares in the company, valued at $46,563,660. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,719 shares of company stock worth $47,133,109. 4.34% of the stock is currently owned by corporate insiders.

CrowdStrike Stock Up 0.8 %

NASDAQ CRWD opened at $259.13 on Monday. CrowdStrike Holdings, Inc. has a 1 year low of $157.59 and a 1 year high of $398.33. The stock has a market capitalization of $63.06 billion, a PE ratio of 488.92, a PEG ratio of 16.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day moving average is $276.14 and its 200 day moving average is $313.67.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same period last year, the company earned $0.06 EPS. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. Sell-side analysts forecast that CrowdStrike Holdings, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup cut their target price on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. DA Davidson lifted their price target on CrowdStrike from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a report on Thursday, August 29th. Scotiabank reduced their target price on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Finally, Oppenheimer lowered their price target on shares of CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $327.16.

About CrowdStrike

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.