Fifth Third Bancorp Buys 5,021 Shares of CrowdStrike $CRWD

Fifth Third Bancorp grew its position in shares of CrowdStrike (NASDAQ:CRWD) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,134 shares of the company’s stock after purchasing an additional 5,021 shares during the period. Fifth Third Bancorp’s holdings in CrowdStrike were worth $45,671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRWD. Brighton Jones LLC raised its holdings in shares of CrowdStrike by 44.9% during the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company’s stock worth $2,670,000 after acquiring an additional 2,417 shares in the last quarter. Empowered Funds LLC raised its stake in CrowdStrike by 3.6% during the first quarter. Empowered Funds LLC now owns 4,812 shares of the company’s stock valued at $1,697,000 after purchasing an additional 169 shares in the last quarter. Hunter Associates Investment Management LLC bought a new position in CrowdStrike during the second quarter valued at $284,000. Chicago Partners Investment Group LLC grew its stake in shares of CrowdStrike by 4.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,398 shares of the company’s stock worth $1,731,000 after buying an additional 146 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its holdings in shares of CrowdStrike by 11.7% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 744 shares of the company’s stock worth $379,000 after buying an additional 78 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Oppenheimer increased their price target on shares of CrowdStrike from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Morgan Stanley raised their price objective on CrowdStrike from $515.00 to $537.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Needham & Company LLC lifted their target price on CrowdStrike from $535.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Jefferies Financial Group increased their price target on CrowdStrike from $515.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Finally, Canaccord Genuity Group raised their price target on CrowdStrike from $500.00 to $515.00 and gave the stock a “hold” rating in a research report on Wednesday, December 3rd. Thirty-one analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $552.17.

CrowdStrike Price Performance

CRWD opened at $429.64 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $458.83 and a 200 day moving average of $473.22. CrowdStrike has a 52-week low of $298.00 and a 52-week high of $566.90. The stock has a market cap of $108.31 billion, a P/E ratio of -340.98, a PEG ratio of 24.59 and a beta of 1.03.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, December 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. As a group, sell-side analysts anticipate that CrowdStrike will post 0.55 EPS for the current year.

Insider Buying and Selling

In other news, CAO Anurag Saha sold 836 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $476.83, for a total transaction of $398,629.88. Following the transaction, the chief accounting officer directly owned 43,726 shares of the company’s stock, valued at approximately $20,849,868.58. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Burt W. Podbere sold 7,871 shares of CrowdStrike stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $415.78, for a total transaction of $3,272,604.38. Following the sale, the chief financial officer directly owned 169,613 shares of the company’s stock, valued at $70,521,693.14. This represents a 4.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,247 shares of company stock worth $45,722,274 over the last 90 days. Corporate insiders own 3.32% of the company’s stock.

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.