Cornerstone Wealth Management LLC Trims Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Cornerstone Wealth Management LLC decreased its position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 11.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,168 shares of the company’s stock after selling 152 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in CrowdStrike were worth $328,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CRWD. Vanguard Group Inc. increased its position in CrowdStrike by 2.0% during the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after buying an additional 315,280 shares during the period. Legal & General Group Plc increased its holdings in shares of CrowdStrike by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares during the period. Ameriprise Financial Inc. raised its position in CrowdStrike by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock valued at $696,471,000 after purchasing an additional 77,100 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the period. Finally, Federated Hermes Inc. grew its position in CrowdStrike by 0.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,112,272 shares of the company’s stock worth $426,212,000 after purchasing an additional 9,564 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

CrowdStrike stock opened at $310.15 on Friday. The stock has a market capitalization of $75.48 billion, a P/E ratio of 585.19, a P/E/G ratio of 19.94 and a beta of 1.10. CrowdStrike Holdings, Inc. has a 12-month low of $170.17 and a 12-month high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $276.25 and its two-hundred day moving average is $308.36.

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

Insider Activity at CrowdStrike

In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $320.38, for a total value of $2,002,375.00. Following the sale, the director now directly owns 821,766 shares of the company’s stock, valued at approximately $263,277,391.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CrowdStrike news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Friday, October 11th. The shares were sold at an average price of $320.38, for a total value of $2,002,375.00. Following the transaction, the director now owns 821,766 shares in the company, valued at $263,277,391.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total value of $1,040,000.00. Following the sale, the insider now owns 179,091 shares of the company’s stock, valued at approximately $46,563,660. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,212 shares of company stock worth $30,529,413. 4.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp raised their price target on CrowdStrike from $300.00 to $345.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. The Goldman Sachs Group cut their price target on CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada lowered their price objective on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. BNP Paribas initiated coverage on shares of CrowdStrike in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 target price for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $325.00 price target on shares of CrowdStrike in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $328.74.

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.