Procyon Advisors LLC Raises Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Procyon Advisors LLC raised its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 9.6% in the first quarter, Holdings Channel reports. The institutional investor owned 2,122 shares of the company’s stock after buying an additional 185 shares during the quarter. Procyon Advisors LLC’s holdings in CrowdStrike were worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. FPC Investment Advisory Inc. grew its stake in CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock valued at $28,000 after acquiring an additional 73 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in CrowdStrike in the 4th quarter worth approximately $34,000. Millstone Evans Group LLC bought a new position in CrowdStrike in the 4th quarter valued at $34,000. ST Germain D J Co. Inc. grew its position in shares of CrowdStrike by 426.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 100 shares of the company’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Bellwether Advisors LLC purchased a new position in shares of CrowdStrike during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Up 1.2%

Shares of CrowdStrike stock opened at $468.41 on Friday. The company’s 50 day moving average price is $415.18 and its 200-day moving average price is $388.29. CrowdStrike Holdings, Inc. has a 52-week low of $200.81 and a 52-week high of $491.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $116.11 billion, a price-to-earnings ratio of 918.47, a P/E/G ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Equities research analysts forecast that CrowdStrike Holdings, Inc. will post 0.55 EPS for the current year.

Insider Buying and Selling

In other CrowdStrike news, Director Gerhard Watzinger sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total value of $4,890,000.00. Following the completion of the sale, the director now owns 29,500 shares in the company, valued at approximately $14,425,500. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total value of $536,495.52. Following the completion of the sale, the chief accounting officer now owns 36,165 shares in the company, valued at approximately $12,969,492.30. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock valued at $87,081,236 over the last ninety days. 3.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRWD has been the subject of several research analyst reports. Susquehanna lifted their price objective on CrowdStrike from $425.00 to $530.00 and gave the company a “positive” rating in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $500.00 target price on shares of CrowdStrike in a research note on Wednesday. Guggenheim reaffirmed a “neutral” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Cantor Fitzgerald boosted their price objective on CrowdStrike from $440.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CrowdStrike from $418.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $450.43.

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.