New York State Common Retirement Fund Grows Holdings in CrowdStrike $CRWD

by · The Cerbat Gem

New York State Common Retirement Fund raised its position in CrowdStrike (NASDAQ:CRWD – Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 291,800 shares of the company’s stock after buying an additional 25,400 shares during the period. New York State Common Retirement Fund’s holdings in CrowdStrike were worth $148,617,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Advyzon Investment Management LLC raised its position in CrowdStrike by 142.9% in the second quarter. Advyzon Investment Management LLC now owns 906 shares of the company’s stock worth $461,000 after acquiring an additional 533 shares during the period. Draper Asset Management LLC increased its stake in shares of CrowdStrike by 59.1% during the 2nd quarter. Draper Asset Management LLC now owns 4,358 shares of the company’s stock worth $2,176,000 after purchasing an additional 1,619 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new stake in shares of CrowdStrike during the 2nd quarter worth approximately $397,000. Geneos Wealth Management Inc. raised its holdings in shares of CrowdStrike by 33.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 24,059 shares of the company’s stock worth $8,483,000 after purchasing an additional 5,998 shares during the period. Finally, Accel Wealth Management purchased a new position in CrowdStrike in the second quarter valued at approximately $269,000. Institutional investors own 71.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRWD. Stifel Nicolaus increased their price objective on CrowdStrike from $515.00 to $600.00 and gave the company a “buy” rating in a report on Monday, November 17th. DA Davidson upped their price target on CrowdStrike from $515.00 to $580.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Guggenheim reiterated a “neutral” rating on shares of CrowdStrike in a research note on Monday. BMO Capital Markets boosted their price objective on CrowdStrike from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, Needham & Company LLC upped their price objective on shares of CrowdStrike from $475.00 to $535.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and an average price target of $543.75.

Read Our Latest Research Report on CRWD

Insider Activity

In related news, CFO Burt W. Podbere sold 10,706 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $495.67, for a total transaction of $5,306,643.02. Following the completion of the transaction, the chief financial officer owned 220,424 shares of the company’s stock, valued at approximately $109,257,564.08. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurtz sold 17,830 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $494.53, for a total transaction of $8,817,469.90. Following the sale, the chief executive officer directly owned 2,115,057 shares in the company, valued at $1,045,959,138.21. This trade represents a 0.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,622 shares of company stock valued at $58,561,456 over the last ninety days. 3.32% of the stock is owned by insiders.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $509.51 on Friday. The business’s fifty day moving average is $511.77 and its 200 day moving average is $476.86. The firm has a market cap of $127.87 billion, a price-to-earnings ratio of -428.16, a PEG ratio of 118.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. CrowdStrike has a 52-week low of $298.00 and a 52-week high of $566.90.

CrowdStrike (NASDAQ:CRWD – Get Free Report) last posted its earnings results on Wednesday, August 27th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. CrowdStrike had a negative return on equity of 1.53% and a negative net margin of 6.84%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts predict that CrowdStrike will post 0.55 EPS for the current year.

About CrowdStrike

(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.

See Also

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