Jennison Associates LLC Increases Stock Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Jennison Associates LLC lifted its holdings in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,068,800 shares of the company’s stock after buying an additional 1,013,161 shares during the quarter. CrowdStrike comprises 0.9% of Jennison Associates LLC’s investment portfolio, making the stock its 28th biggest position. Jennison Associates LLC owned about 2.07% of CrowdStrike worth $1,421,646,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Arlington Financial Advisors LLC increased its holdings in CrowdStrike by 1.5% during the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after acquiring an additional 30 shares during the period. Sunpointe LLC increased its holdings in CrowdStrike by 3.1% during the 3rd quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock worth $317,000 after acquiring an additional 34 shares during the period. Means Investment CO. Inc. increased its holdings in CrowdStrike by 1.8% during the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock worth $741,000 after acquiring an additional 35 shares during the period. Interchange Capital Partners LLC increased its holdings in CrowdStrike by 1.1% during the 3rd quarter. Interchange Capital Partners LLC now owns 3,694 shares of the company’s stock worth $1,036,000 after acquiring an additional 39 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in CrowdStrike by 9.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 478 shares of the company’s stock worth $134,000 after acquiring an additional 40 shares during the period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HSBC raised shares of CrowdStrike from a “hold” rating to a “buy” rating and upped their target price for the stock from $302.00 to $339.00 in a report on Friday, August 30th. UBS Group decreased their price target on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. CICC Research initiated coverage on shares of CrowdStrike in a report on Monday. They issued a “market perform” rating and a $295.00 price target on the stock. Citigroup decreased their price target on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Robert W. Baird decreased their price target on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.90.

CrowdStrike Trading Up 3.0 %

NASDAQ:CRWD opened at $353.29 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $301.83 and a 200-day moving average price of $310.94. The stock has a market cap of $86.60 billion, a price-to-earnings ratio of 512.01, a P/E/G ratio of 22.77 and a beta of 1.10. CrowdStrike Holdings, Inc. has a 12 month low of $200.81 and a 12 month high of $398.33.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. CrowdStrike’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. Equities analysts predict that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the sale, the insider now directly owns 174,591 shares in the company, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the sale, the chief accounting officer now owns 38,962 shares of the company’s stock, 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. Insiders sold a total of 108,248 shares of company stock worth $32,465,110 in the last three months. 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.