Intech Investment Management LLC Cuts Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Intech Investment Management LLC cut its holdings in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 18.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,159 shares of the company’s stock after selling 2,955 shares during the quarter. Intech Investment Management LLC’s holdings in CrowdStrike were worth $1,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Highland Capital Management LLC boosted its stake in shares of CrowdStrike by 5.2% in the second quarter. Highland Capital Management LLC now owns 31,555 shares of the company’s stock worth $4,634,000 after acquiring an additional 1,557 shares during the last quarter. Ellevest Inc. boosted its stake in shares of CrowdStrike by 19.6% in the second quarter. Ellevest Inc. now owns 2,992 shares of the company’s stock worth $439,000 after acquiring an additional 490 shares during the last quarter. Trivest Advisors Ltd acquired a new stake in shares of CrowdStrike in the second quarter worth approximately $1,542,000. Coastal Investment Advisors Inc. boosted its stake in shares of CrowdStrike by 5.7% in the second quarter. Coastal Investment Advisors Inc. now owns 5,027 shares of the company’s stock worth $738,000 after acquiring an additional 269 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in shares of CrowdStrike in the second quarter worth approximately $1,013,000. 63.53% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

CRWD stock opened at $204.29 on Thursday. CrowdStrike Holdings, Inc. has a 52-week low of $92.25 and a 52-week high of $210.09. The stock’s fifty day simple moving average is $177.31 and its 200-day simple moving average is $158.11. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $48.78 billion, a price-to-earnings ratio of -498.27, a price-to-earnings-growth ratio of 17.47 and a beta of 0.93.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. CrowdStrike had a negative return on equity of 4.05% and a negative net margin of 3.54%. The business had revenue of $731.63 million for the quarter, compared to analysts’ expectations of $725.44 million. Equities research analysts expect that CrowdStrike Holdings, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BTIG Research boosted their price objective on CrowdStrike from $188.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Scotiabank boosted their price objective on CrowdStrike from $174.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, September 22nd. Mizuho boosted their price objective on CrowdStrike from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. DA Davidson reissued a “buy” rating and set a $185.00 price objective on shares of CrowdStrike in a research note on Thursday, September 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $200.00 price target on shares of CrowdStrike in a research note on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.77.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 926 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $167.98, for a total transaction of $155,549.48. Following the transaction, the chief accounting officer now owns 38,554 shares in the company, valued at $6,476,300.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Sameer K. Gandhi sold 15,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $200.06, for a total value of $3,000,900.00. Following the completion of the sale, the director now directly owns 852,949 shares of the company’s stock, valued at $170,640,976.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Anurag Saha sold 926 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $167.98, for a total value of $155,549.48. Following the completion of the sale, the chief accounting officer now directly owns 38,554 shares of the company’s stock, valued at $6,476,300.92. The disclosure for this sale can be found here. Insiders have sold a total of 151,083 shares of company stock worth $26,680,472 over the last quarter. 5.68% of the stock is owned by corporate insiders.

CrowdStrike Profile

CrowdStrike Holdings, Inc provides cloud-delivered protection across endpoints and cloud workloads, identity, and data. It offers corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection, and log management.