Suvretta Capital Management LLC Acquires New Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Suvretta Capital Management LLC bought a new stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 122,155 shares of the company’s stock, valued at approximately $34,261,000.

Several other large investors also recently added to or reduced their stakes in CRWD. Quent Capital LLC lifted its position in shares of CrowdStrike by 59.9% during the first quarter. Quent Capital LLC now owns 235 shares of the company’s stock worth $75,000 after acquiring an additional 88 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in CrowdStrike during the 1st quarter worth about $218,000. Citizens Financial Group Inc. RI boosted its stake in CrowdStrike by 6.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 831 shares of the company’s stock worth $266,000 after purchasing an additional 47 shares during the period. Virtu Financial LLC purchased a new position in CrowdStrike during the 1st quarter valued at about $769,000. Finally, LRI Investments LLC purchased a new position in CrowdStrike during the 1st quarter valued at about $147,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $347.59 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. CrowdStrike Holdings, Inc. has a 1 year low of $200.81 and a 1 year high of $398.33. The company’s 50-day moving average is $314.88 and its 200 day moving average is $313.01. The stock has a market capitalization of $85.20 billion, a P/E ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. During the same quarter in the prior year, the company earned $0.06 EPS. The business’s revenue was up 31.7% compared to the same quarter last year. On average, sell-side analysts expect that CrowdStrike Holdings, Inc. will post 0.49 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CRWD. Needham & Company LLC raised their price objective on shares of CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price target on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Evercore ISI upped their price target on shares of CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday. HSBC lowered CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 price objective for the company. in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on CrowdStrike from $315.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

Insiders Place Their Bets

In other CrowdStrike news, President Michael Sentonas sold 10,776 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $3,203,489.28. Following the sale, the president now owns 400,390 shares in the company, valued at approximately $119,027,939.20. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the transaction, the insider now owns 120,298 shares of the company’s stock, valued at $40,954,251.12. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is 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.