Elevation Point Wealth Partners LLC Lowers Position in CrowdStrike $CRWD

Elevation Point Wealth Partners LLC trimmed its holdings in shares of CrowdStrike (NASDAQ:CRWD) by 55.4% in the third quarter, Holdings Channel reports. The firm owned 2,361 shares of the company’s stock after selling 2,929 shares during the period. Elevation Point Wealth Partners LLC’s holdings in CrowdStrike were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Planning Inc purchased a new position in CrowdStrike during the third quarter worth about $25,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of CrowdStrike in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new position in shares of CrowdStrike in the 3rd quarter worth approximately $25,000. Logan Capital Management Inc. purchased a new position in shares of CrowdStrike during the 3rd quarter worth approximately $26,000. Finally, Howard Hughes Medical Institute purchased a new position in shares of CrowdStrike during the 2nd quarter worth approximately $27,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Stock Down 4.1%

CRWD stock opened at $423.84 on Tuesday. The company’s 50 day moving average price is $427.97 and its 200 day moving average price is $469.88. The firm has a market capitalization of $107.49 billion, a price-to-earnings ratio of -572.75, a PEG ratio of 19.38 and a beta of 1.07. CrowdStrike has a fifty-two week low of $298.00 and a fifty-two week high of $566.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.77 and a current ratio of 1.77.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. CrowdStrike had a negative net margin of 3.81% and a negative return on equity of 0.14%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities research analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO George Kurtz sold 28,853 shares of CrowdStrike stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $413.01, for a total transaction of $11,916,577.53. Following the completion of the sale, the chief executive officer directly owned 2,054,902 shares of the company’s stock, valued at approximately $848,695,075.02. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johanna Flower sold 3,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $461.94, for a total transaction of $1,385,820.00. Following the transaction, the director owned 76,082 shares of the company’s stock, valued at approximately $35,145,319.08. The trade was a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 90,024 shares of company stock worth $40,424,241. 3.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRWD shares. Morgan Stanley raised CrowdStrike from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $487.00 to $510.00 in a research report on Tuesday, March 10th. BNP Paribas Exane dropped their price objective on CrowdStrike from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. TD Cowen cut their price objective on CrowdStrike from $580.00 to $480.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Barclays decreased their target price on CrowdStrike from $610.00 to $550.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Canaccord Genuity Group lowered their target price on CrowdStrike from $515.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $506.26.

CrowdStrike Profile

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.