Galvin Gaustad & Stein LLC, an institutional investor, recently acquired a new position in shares of CrowdStrike Holdings, Inc. during the second quarter of this year. According to the most recent filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 1,776 shares of the company’s stock, which were valued at approximately $261,000.
This acquisition by Galvin Gaustad & Stein LLC signifies confidence in CrowdStrike Holdings, Inc., a leading provider of cloud-delivered endpoint protection solutions that help protect organizations from cyber threats. The purchase of shares demonstrates a belief in the company’s growth potential and its ability to deliver value to shareholders.
In other news related to CrowdStrike Holdings, Inc., the CEO George Kurtz sold 178,000 shares of the business’s stock in a transaction that took place on Thursday, July 13th. The shares were sold at an average price of $151.04 per share, resulting in a total transaction value of $26,885,120.00. Following this sale, the chief executive officer now directly owns 1,119,971 shares of the company’s stock with an approximate value of $169,160,419.84.
Additional information regarding this sale was disclosed in a document filed with the SEC and can be accessed through their official website. It is worth noting that CEO George Kurtz previously sold 178,000 shares on July 13th as well.
Furthermore, director Roxanne S. Austin also participated in selling stocks from CrowdStrike Holdings. On Thursday, July 13th alone she sold 45,000 shares at an average price of $152.01 per share for a total value amounting to $6,840,450.00. After completing this transaction successfully, Austin now retains ownership of 62,656 shares valued at $9
The Rising Interest and Positive Projections of CrowdStrike: Insights into Hedge Fund Activity and Research Analyst Ratings
In recent months, several hedge funds and investment firms have made significant changes to their holdings in the company CrowdStrike (NASDAQ:CRWD), leaving many perplexed by the flurry of activity. Coppell Advisory Solutions Corp., for example, recently acquired a new position in shares of CrowdStrike during the fourth quarter, with an estimated value of $25,000. Similarly, Freedom Wealth Alliance LLC and WealthPLAN Partners LLC purchased new stakes in the company during different periods, valued at around $32,000 and $38,000 respectively. Rise Advisors LLC also raised its holdings in CrowdStrike by 41.7% during the first quarter, now owning 326 shares worth $45,000 after purchasing an additional 96 shares. Additionally, Householder Group Estate & Retirement Specialist LLC increased its stake in the company by 68.5% in the same period.
It is worth noting that a substantial portion of CrowdStrike’s stock is now held by institutional investors and hedge funds, with approximately 63.53% ownership attributed to this group.
The increasing interest from these investment entities has prompted research analysts to delve deeper into CrowdStrike’s prospects and potential growth opportunities. Several research reports have been published on the company, shedding light on its performance and potential future trajectory.
Leading financial firm Rosenblatt Securities raised their price target for CrowdStrike from $190.00 to $200.00 and gave it a “buy” rating. Truist Financial also increased their price target to $200.00 while assigning a “buy” rating to the stock. Jefferies Financial Group raised their price objective from $155.00 to $170.00 but maintained a “hold” rating on the company’s shares. Scotiabank also upped its target price on CrowdStrike from $174.00 to $186.00 with an “outperform” recommendation.
On September 26th, JMP Securities reiterated their “market outperform” rating on CrowdStrike shares and set a $235.00 target price. Overall, the stock has received a consensus rating of “Moderate Buy” with an average target price of $189.08 based on data from Bloomberg.
In terms of recent trading activity, shares of CrowdStrike opened at $164.05 on Thursday, highlighting the company’s market performance. With a debt-to-equity ratio of 0.40, a current ratio and quick ratio both at 1.82, CrowdStrike appears to have maintained a stable financial position amidst market fluctuations. Furthermore, its 50-day moving average price stands at $158.12 while its two-hundred-day moving average was recorded at $146.85. The stock’s 52-week high and low are reported at $181.84 and $92.25 respectively.
CrowdStrike last announced its quarterly earnings results on August 30th, revealing notable figures that exceeded the consensus estimates by research analysts. The company reported an earnings per share (EPS) of $0.06 for the quarter, surpassing expectations by $0.07 per share in relation to the estimated loss ($0.01). However, it is worth noting that CrowdStrike had a negative return on equity of 4.05% and a negative net margin of 3.54%, indicating areas for improvement in its financial performance moving forward.
The total revenue generated by CrowdStrike in Q3 reached approximately $731.63 million compared to a consensus projection of around $725.44 million.
As we approach the end of the fiscal year, research analysts predict that CrowdStrike Holdings, Inc.’s earnings per share for 2023 will come in around $0.32.
While perplexing due to its sudden popularity among hedge funds and investment firms, it is clear that CrowdStrike has caught the attention of financial professionals who believe in its potential for growth. The company’s recent quarterly performance has also exceeded expectations, leading to positive projections for the future. As always, investors should conduct thorough research and consult with financial advisors before making any investment decisions.