Principal Financial Group Inc. Sells 28,966 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Principal Financial Group Inc. lowered its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD - Free Report) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,477 shares of the company's stock after selling 28,966 shares during the quarter. Principal Financial Group Inc. owned 0.11% of CrowdStrike worth $75,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Garden State Investment Advisory Services LLC bought a new position in shares of CrowdStrike during the third quarter valued at about $446,000. Oddo BHF Asset Management Sas purchased a new stake in CrowdStrike in the 3rd quarter valued at about $2,975,000. Tri Ri Asset Management Corp bought a new position in shares of CrowdStrike during the 3rd quarter worth approximately $5,456,000. Peapack Gladstone Financial Corp purchased a new position in shares of CrowdStrike in the 3rd quarter worth approximately $497,000. Finally, Tidal Investments LLC grew its holdings in shares of CrowdStrike by 7.5% in the third quarter. Tidal Investments LLC now owns 24,813 shares of the company's stock valued at $6,959,000 after acquiring an additional 1,740 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Price Performance

NASDAQ CRWD traded up $11.26 during trading hours on Friday, reaching $362.29. 5,175,928 shares of the stock traded hands, compared to its average volume of 4,937,838. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market cap of $89.24 billion, a price-to-earnings ratio of 710.39, a price-to-earnings-growth ratio of 19.48 and a beta of 1.11. The stock has a 50 day simple moving average of $336.89 and a two-hundred day simple moving average of $315.59. CrowdStrike Holdings, Inc. has a 1 year low of $200.81 and a 1 year high of $398.33.

Analyst Ratings Changes

A number of brokerages have issued reports on CRWD. Argus reduced their price objective on CrowdStrike from $400.00 to $325.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CrowdStrike from $350.00 to $275.00 and set a "hold" rating on the stock in a research report on Monday, August 26th. Barclays increased their target price on shares of CrowdStrike from $295.00 to $372.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Jefferies Financial Group lifted their price target on shares of CrowdStrike from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday. Finally, DA Davidson reissued a "buy" rating and set a $310.00 price objective on shares of CrowdStrike in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, CrowdStrike presently has a consensus rating of "Moderate Buy" and an average price target of $361.25.

Insiders Place Their Bets

In related news, President Michael Sentonas sold 10,776 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the transaction, the president now owns 400,390 shares in the company, valued at $119,027,939.20. The trade was a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $16,410,501.50. Following the completion of the sale, the chief executive officer now owns 1,109,746 shares of the company's stock, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,498 shares of company stock valued at $45,599,730 over the last quarter. 4.34% of the stock is owned by corporate insiders.

CrowdStrike 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.