Adero Partners LLC Lowers Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Adero Partners LLC reduced its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 8,399 shares of the company’s stock after selling 114 shares during the period. Adero Partners LLC’s holdings in CrowdStrike were worth $2,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Beacon Financial Advisory LLC purchased a new position in CrowdStrike in the 3rd quarter worth approximately $955,000. Burney Co. purchased a new position in CrowdStrike in the 1st quarter worth approximately $1,342,000. Doliver Advisors LP lifted its holdings in CrowdStrike by 223.2% in the 3rd quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after purchasing an additional 4,664 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in CrowdStrike by 10.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after purchasing an additional 78,305 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in CrowdStrike by 0.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock worth $124,644,000 after purchasing an additional 2,863 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

Shares of CRWD stock opened at $336.75 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $82.55 billion, a price-to-earnings ratio of 488.04, a P/E/G ratio of 22.77 and a beta of 1.10. CrowdStrike Holdings, Inc. has a twelve month low of $198.86 and a twelve month high of $398.33. The stock has a fifty day simple moving average of $297.79 and a two-hundred day simple moving average of $310.25.

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. The firm had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, analysts predict that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now directly owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,683 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the sale, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,248 shares of company stock worth $32,465,110 in the last three months. 4.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRWD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on CrowdStrike from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Scotiabank decreased their price objective on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, August 26th. The Goldman Sachs Group decreased their price objective on CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Oppenheimer decreased their price objective on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.74.

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.