Covington Capital Management Grows Holdings in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Covington Capital Management increased its holdings in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWDGet Rating) by 23.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 593 shares of the company’s stock after buying an additional 112 shares during the period. Covington Capital Management’s holdings in CrowdStrike were worth $100,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC purchased a new stake in CrowdStrike during the 1st quarter worth approximately $414,000. Flagship Harbor Advisors LLC increased its stake in CrowdStrike by 6.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 4,356 shares of the company’s stock worth $989,000 after buying an additional 260 shares during the period. Octavia Wealth Advisors LLC purchased a new stake in CrowdStrike during the 1st quarter worth approximately $294,000. Addison Capital Co purchased a new stake in CrowdStrike during the 1st quarter worth approximately $933,000. Finally, Scotia Capital Inc. grew its holdings in CrowdStrike by 6.1% during the 1st quarter. Scotia Capital Inc. now owns 1,955 shares of the company’s stock worth $444,000 after acquiring an additional 112 shares in the last quarter. 67.43% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Down 4.4 %

Shares of CrowdStrike stock opened at $171.01 on Monday. The company has a market cap of $39.91 billion, a P/E ratio of -228.01 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.80 and a current ratio of 1.80. CrowdStrike Holdings, Inc. has a one year low of $130.00 and a one year high of $298.48. The firm has a fifty day moving average of $185.74 and a two-hundred day moving average of $186.04.

CrowdStrike (NASDAQ:CRWDGet Rating) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $535.15 million during the quarter, compared to the consensus estimate of $516.44 million. CrowdStrike had a negative net margin of 9.45% and a negative return on equity of 12.96%. CrowdStrike’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, analysts forecast that CrowdStrike Holdings, Inc. will post -0.75 earnings per share for the current year.

Insider Activity

In other news, insider Shawn Henry sold 8,713 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $165.03, for a total value of $1,437,906.39. Following the completion of the transaction, the insider now owns 185,584 shares in the company, valued at approximately $30,626,927.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Shawn Henry sold 8,713 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $165.03, for a total value of $1,437,906.39. Following the completion of the transaction, the insider now owns 185,584 shares in the company, valued at approximately $30,626,927.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 10,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $175.01, for a total transaction of $1,750,100.00. Following the completion of the transaction, the director now owns 170,000 shares of the company’s stock, valued at approximately $29,751,700. The disclosure for this sale can be found here. Insiders sold 113,782 shares of company stock worth $19,331,841 in the last 90 days. 6.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CRWD. Morgan Stanley boosted their price target on shares of CrowdStrike from $215.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Cantor Fitzgerald began coverage on shares of CrowdStrike in a report on Wednesday, September 7th. They set an “overweight” rating and a $240.00 price target for the company. Piper Sandler boosted their price target on shares of CrowdStrike from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Barclays boosted their price target on shares of CrowdStrike from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Finally, Stifel Nicolaus boosted their price target on shares of CrowdStrike from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. One research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

About CrowdStrike

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CrowdStrike Holdings, Inc provides cloud-delivered protection across endpoints and cloud workloads, identity, and data. It offers threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. The company primarily sells subscriptions to its Falcon platform and cloud modules through its direct sales team that leverages its network of channel partners.

See Also

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Institutional Ownership by Quarter for CrowdStrike (NASDAQ:CRWD)

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