Envestnet Portfolio Solutions Inc. Trims Stock Position in CrowdStrike $CRWD

Envestnet Portfolio Solutions Inc. lessened its stake in shares of CrowdStrike (NASDAQ:CRWD) by 41.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,274 shares of the company’s stock after selling 2,325 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CrowdStrike were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CRWD. Asset Planning Inc acquired a new stake in shares of CrowdStrike in the 3rd quarter valued at approximately $25,000. AlphaQuest LLC acquired a new position in shares of CrowdStrike during the 2nd quarter worth $26,000. Howard Hughes Medical Institute acquired a new position in CrowdStrike during the second quarter worth about $27,000. Pinnacle Bancorp Inc. acquired a new position in shares of CrowdStrike during the 3rd quarter worth approximately $27,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of CrowdStrike in the second quarter worth $33,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

Insider Activity

In other news, Director Denis Oleary sold 7,750 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $515.44, for a total value of $3,994,660.00. Following the sale, the director owned 10,816 shares of the company’s stock, valued at approximately $5,574,999.04. The trade was a 41.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Sentonas sold 11,461 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $479.78, for a total transaction of $5,498,758.58. Following the completion of the sale, the president owned 342,655 shares in the company, valued at approximately $164,399,015.90. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 69,048 shares of company stock worth $34,509,857 in the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on CrowdStrike from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Evercore ISI lifted their target price on shares of CrowdStrike from $430.00 to $460.00 and gave the company an “in-line” rating in a report on Wednesday, December 3rd. Morgan Stanley boosted their price target on CrowdStrike from $515.00 to $537.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of CrowdStrike in a research report on Tuesday, January 20th. Finally, Piper Sandler increased their target price on CrowdStrike from $450.00 to $520.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Thirty-one equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $555.21.

CrowdStrike Stock Up 3.5%

CrowdStrike stock opened at $468.33 on Tuesday. CrowdStrike has a one year low of $298.00 and a one year high of $566.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market capitalization of $118.07 billion, a P/E ratio of -371.69, a P/E/G ratio of 109.85 and a beta of 1.03. The company has a 50-day simple moving average of $483.92 and a 200-day simple moving average of $477.83.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. CrowdStrike had a negative return on equity of 2.12% and a negative net margin of 6.88%.The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts expect that CrowdStrike will post 0.55 earnings per share for the current year.

About CrowdStrike

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.