Pinnacle Wealth Management LLC Cuts Stock Position in CrowdStrike $CRWD

by · The Cerbat Gem

Pinnacle Wealth Management LLC lessened its stake in CrowdStrike (NASDAQ:CRWD – Free Report) by 86.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 845 shares of the company’s stock after selling 5,203 shares during the quarter. Pinnacle Wealth Management LLC’s holdings in CrowdStrike were worth $298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRWD. Cloud Capital Management LLC purchased a new position in CrowdStrike in the first quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in CrowdStrike by 114.3% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in CrowdStrike in the first quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of CrowdStrike by 305.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of CrowdStrike in the first quarter worth $30,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $427.90 on Monday. CrowdStrike has a 1-year low of $242.25 and a 1-year high of $517.98. The business has a 50-day moving average of $472.79 and a 200-day moving average of $427.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $106.65 billion, a price-to-earnings ratio of -620.14 and a beta of 1.13.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on CRWD shares. Roth Capital boosted their price target on CrowdStrike from $410.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Stephens increased their price target on CrowdStrike from $450.00 to $540.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Morgan Stanley reissued an “equal weight” rating and set a $495.00 target price (up previously from $490.00) on shares of CrowdStrike in a research note on Monday, July 14th. Raymond James Financial reissued an “outperform” rating and set a $485.00 target price (up previously from $390.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Finally, Oppenheimer increased their target price on CrowdStrike from $410.00 to $520.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $461.17.

View Our Latest Report on CRWD

Insider Activity at CrowdStrike

In related news, Director Denis Oleary sold 15,680 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $468.93, for a total value of $7,352,822.40. Following the sale, the director owned 36,906 shares of the company’s stock, valued at approximately $17,306,330.58. This trade represents a 29.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Sentonas sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the transaction, the president directly owned 422,204 shares of the company’s stock, valued at approximately $201,391,308. This trade represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,414 shares of company stock worth $101,484,738 over the last quarter. 3.32% of the stock is owned by corporate insiders.

CrowdStrike Profile

(Free Report)

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.

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