CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Cuts Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the company’s stock after selling 6,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in CrowdStrike were worth $1,683,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in CrowdStrike by 5,452.5% in the fourth quarter. Wellington Management Group LLP now owns 144,532 shares of the company’s stock worth $36,902,000 after purchasing an additional 141,929 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of CrowdStrike in the 4th quarter worth $464,000. Ballentine Partners LLC raised its holdings in CrowdStrike by 25.0% in the 1st quarter. Ballentine Partners LLC now owns 1,772 shares of the company’s stock worth $568,000 after purchasing an additional 354 shares during the period. Riverview Trust Co purchased a new position in CrowdStrike during the first quarter valued at $36,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in CrowdStrike during the first quarter valued at about $546,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRWD has been the subject of a number of recent research reports. Evercore ISI cut their price objective on CrowdStrike from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Scotiabank decreased their price target on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Robert W. Baird decreased their target price on CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. BNP Paribas began coverage on shares of CrowdStrike in a report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 price objective for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 target price on shares of CrowdStrike in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $328.74.

Insiders Place Their Bets

In related news, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the transaction, the chief executive officer now owns 1,109,746 shares in the company, valued at $329,172,858.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Anurag Saha sold 1,683 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,212 shares of company stock worth $30,529,413. Company insiders own 4.34% of the company’s stock.

CrowdStrike Stock Performance

NASDAQ:CRWD traded down $0.85 during trading hours on Tuesday, hitting $308.70. 1,219,911 shares of the company were exchanged, compared to its average volume of 5,172,452. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. CrowdStrike Holdings, Inc. has a 52-week low of $170.17 and a 52-week high of $398.33. The stock has a market capitalization of $75.13 billion, a price-to-earnings ratio of 579.72, a PEG ratio of 19.94 and a beta of 1.10. The company’s 50 day moving average price is $277.66 and its 200-day moving average price is $308.20.

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

CrowdStrike Company Profile

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.