Assetmark Inc. Sells 2,793 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Assetmark Inc. lowered its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Free Report) by 90.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 308 shares of the company's stock after selling 2,793 shares during the quarter. Assetmark Inc.'s holdings in CrowdStrike were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRWD. International Assets Investment Management LLC boosted its position in shares of CrowdStrike by 17,926.3% during the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company's stock worth $259,668,000 after buying an additional 920,695 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company's stock valued at $671,828,000 after purchasing an additional 564,662 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company's stock valued at $146,180,000 after purchasing an additional 371,695 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in CrowdStrike by 429.2% in the second quarter. Principal Financial Group Inc. now owns 298,443 shares of the company's stock worth $114,360,000 after purchasing an additional 242,052 shares during the period. Finally, Swedbank AB bought a new position in CrowdStrike in the 1st quarter valued at about $73,972,000. 71.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRWD has been the subject of a number of research analyst reports. BNP Paribas started coverage on shares of CrowdStrike in a research note on Tuesday, October 8th. They issued a "neutral" rating and a $285.00 price target for the company. Citigroup lowered their price target on CrowdStrike from $345.00 to $300.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Needham & Company LLC initiated coverage on CrowdStrike in a report on Monday, September 23rd. They issued a "buy" rating and a $360.00 price objective for the company. The Goldman Sachs Group lowered their target price on CrowdStrike from $400.00 to $295.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Finally, KeyCorp upped their price target on shares of CrowdStrike from $300.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $331.90.

CrowdStrike Stock Up 1.8 %

NASDAQ CRWD traded up $6.22 during trading on Monday, hitting $342.97. 2,378,319 shares of the company traded hands, compared to its average volume of 5,012,240. The company has a market capitalization of $84.07 billion, a P/E ratio of 497.06, a PEG ratio of 22.77 and a beta of 1.10. The business has a fifty day simple moving average of $297.79 and a 200 day simple moving average of $310.36. CrowdStrike Holdings, Inc. has a 12 month low of $200.81 and a 12 month high of $398.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. During the same period in the previous year, the company earned $0.06 EPS. The company's revenue for the quarter was up 31.7% on a year-over-year basis. As a group, sell-side analysts predict that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO George Kurtz sold 55,325 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at $329,172,858.52. This represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % 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 $32,465,110. Company insiders own 4.34% of the company's stock.

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.