Clearbridge Investments LLC Sells 612,293 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Clearbridge Investments LLC reduced its holdings in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 25.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,792,661 shares of the company’s stock after selling 612,293 shares during the period. Clearbridge Investments LLC’s holdings in CrowdStrike were worth $613,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRWD. Vanguard Group Inc. grew its position in CrowdStrike by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 21,926,011 shares of the company’s stock worth $7,502,204,000 after purchasing an additional 342,294 shares in the last quarter. State Street Corp lifted its stake in CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after purchasing an additional 275,717 shares during the last quarter. Jennison Associates LLC grew its holdings in CrowdStrike by 6.9% during the fourth quarter. Jennison Associates LLC now owns 5,420,980 shares of the company’s stock valued at $1,854,843,000 after purchasing an additional 352,180 shares during the period. Geode Capital Management LLC increased its position in CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after buying an additional 97,990 shares during the last quarter. Finally, Norges Bank bought a new stake in CrowdStrike in the 4th quarter valued at about $1,111,542,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRWD has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of CrowdStrike from $418.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a report on Wednesday, March 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of CrowdStrike in a research report on Wednesday, March 5th. UBS Group lowered their price target on shares of CrowdStrike from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus cut their target price on shares of CrowdStrike from $475.00 to $435.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $400.26.

CrowdStrike Price Performance

NASDAQ CRWD opened at $357.11 on Friday. The firm’s fifty day simple moving average is $388.15 and its two-hundred day simple moving average is $348.82. The firm has a market capitalization of $88.52 billion, a P/E ratio of 700.23, a P/E/G ratio of 17.86 and a beta of 1.19. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. CrowdStrike Holdings, Inc. has a 12-month low of $200.81 and a 12-month high of $455.59.

Insiders Place Their Bets

In other CrowdStrike news, CEO George Kurtz sold 22,449 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $358.68, for a total value of $8,052,007.32. Following the sale, the chief executive officer now directly owns 2,178,452 shares of the company’s stock, valued at approximately $781,367,163.36. This represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anurag Saha sold 1,496 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total transaction of $536,495.52. Following the sale, the chief accounting officer now directly owns 36,165 shares in the company, valued at $12,969,492.30. The trade was a 3.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,801 shares of company stock valued at $42,092,255. 4.34% of the stock is currently owned by corporate insiders.

About CrowdStrike

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.