Clearbridge Investments LLC Sells 174,743 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Clearbridge Investments LLC cut its stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,507,921 shares of the company’s stock after selling 174,743 shares during the quarter. CrowdStrike comprises about 0.8% of Clearbridge Investments LLC’s holdings, making the stock its 24th biggest holding. Clearbridge Investments LLC owned about 1.03% of CrowdStrike worth $961,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Arlington Financial Advisors LLC raised its position in shares of CrowdStrike by 1.5% during the second quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock valued at $778,000 after buying an additional 30 shares during the last quarter. Saturna Capital Corp raised its position in shares of CrowdStrike by 2.7% during the first quarter. Saturna Capital Corp now owns 1,273 shares of the company’s stock valued at $408,000 after buying an additional 33 shares during the last quarter. Means Investment CO. Inc. raised its position in shares of CrowdStrike by 1.8% during the second quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after buying an additional 35 shares during the last quarter. Albion Financial Group UT raised its position in shares of CrowdStrike by 3.7% during the first quarter. Albion Financial Group UT now owns 1,096 shares of the company’s stock valued at $351,000 after buying an additional 39 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its position in shares of CrowdStrike by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 896 shares of the company’s stock valued at $343,000 after buying an additional 43 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRWD has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and set a $310.00 price objective on shares of CrowdStrike in a research report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. Piper Sandler reissued an “overweight” rating and issued a $290.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. JPMorgan Chase & Co. cut their target price on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Finally, Argus cut their target price on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.50.

CrowdStrike Trading Down 1.9 %

Shares of CRWD stock opened at $280.47 on Tuesday. The stock’s fifty day moving average is $259.96 and its two-hundred day moving average is $310.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $68.26 billion, a P/E ratio of 529.19, a PEG ratio of 19.60 and a beta of 1.09. CrowdStrike Holdings, Inc. has a fifty-two week low of $160.86 and a fifty-two week high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. Research analysts expect that CrowdStrike Holdings, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, CFO Burt W. Podbere sold 11,178 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.47, for a total transaction of $3,325,119.66. Following the transaction, the chief financial officer now owns 286,472 shares in the company, valued at approximately $85,216,825.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the completion of the sale, the insider now directly owns 183,091 shares of the company’s stock, valued at approximately $67,985,350.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 11,178 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.47, for a total value of $3,325,119.66. Following the sale, the chief financial officer now directly owns 286,472 shares of the company’s stock, valued at $85,216,825.84. The disclosure for this sale can be found here. Insiders have sold a total of 96,962 shares of company stock worth $28,774,798 in the last quarter. Company insiders own 4.34% of the company’s stock.

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.