Summit Global Investments Decreases Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Summit Global Investments trimmed its holdings in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 55.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,760 shares of the company’s stock after selling 3,497 shares during the period. Summit Global Investments’ holdings in CrowdStrike were worth $774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Abich Financial Wealth Management LLC bought a new stake in CrowdStrike in the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new position in shares of CrowdStrike during the second quarter valued at approximately $30,000. Itau Unibanco Holding S.A. bought a new position in CrowdStrike during the second quarter valued at approximately $33,000. Unique Wealth Strategies LLC purchased a new stake in CrowdStrike in the second quarter worth approximately $36,000. Finally, Hobbs Group Advisors LLC bought a new stake in CrowdStrike in the 2nd quarter worth approximately $38,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Down 0.2 %

NASDAQ CRWD opened at $330.03 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike Holdings, Inc. has a 52 week low of $189.12 and a 52 week high of $398.33. The firm has a market capitalization of $80.90 billion, a price-to-earnings ratio of 478.30, a PEG ratio of 21.64 and a beta of 1.10. The company has a fifty day moving average of $289.62 and a two-hundred day moving average of $308.66.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. On average, analysts predict that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRWD shares. BTIG Research downgraded CrowdStrike from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research report on Thursday, September 19th. Evercore ISI dropped their price objective on shares of CrowdStrike from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $328.74.

Insider Buying and Selling

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at $11,582,623.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Shawn Henry sold 4,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total value of $1,173,285.00. Following the transaction, the insider now owns 174,591 shares of the company’s stock, valued at $45,521,111.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 108,248 shares of company stock valued at $32,143,350. 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.