Meridian Wealth Management LLC Trims Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Meridian Wealth Management LLC trimmed its stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,940 shares of the company’s stock after selling 1,995 shares during the period. Meridian Wealth Management LLC’s holdings in CrowdStrike were worth $3,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Financial Advisory LLC purchased a new stake in CrowdStrike in the 3rd quarter worth $955,000. Sumitomo Mitsui Trust Group Inc. increased its stake in CrowdStrike by 10.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after buying an additional 78,305 shares in the last quarter. Burney Co. purchased a new stake in CrowdStrike in the 1st quarter worth $1,342,000. Doliver Advisors LP increased its stake in CrowdStrike by 223.2% in the 3rd quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after buying an additional 4,664 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CrowdStrike by 0.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock valued at $124,644,000 after purchasing an additional 2,863 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the transaction, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Sentonas sold 10,776 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the transaction, the president now directly owns 400,390 shares of the company’s stock, valued at $119,027,939.20. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,248 shares of company stock worth $32,465,110. Insiders own 4.34% of the company’s stock.

CrowdStrike Stock Performance

Shares of CRWD opened at $372.26 on Friday. The firm has a market cap of $91.25 billion, a PE ratio of 539.51, a P/E/G ratio of 23.89 and a beta of 1.10. 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 stock has a fifty day moving average price of $308.04 and a 200-day moving average price of $311.91. 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 earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.44% and a net margin of 4.84%. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. Equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRWD has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on CrowdStrike from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets raised their price objective on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Citigroup cut their price objective on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. CICC Research started coverage on CrowdStrike in a research report on Monday, November 18th. They set a “market perform” rating and a $295.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating for the company in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $335.62.

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.