Vestcor Inc Lowers Stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Vestcor Inc cut its position in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 28.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,253 shares of the company’s stock after selling 5,313 shares during the quarter. Vestcor Inc’s holdings in CrowdStrike were worth $4,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CRWD. Jennison Associates LLC grew its holdings in shares of CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock valued at $212,021,000 after purchasing an additional 712,900 shares during the period. Raymond James Financial Inc. purchased a new stake in CrowdStrike in the fourth quarter valued at approximately $237,375,000. Amundi grew its holdings in CrowdStrike by 41.9% in the fourth quarter. Amundi now owns 1,382,952 shares of the company’s stock valued at $496,093,000 after purchasing an additional 408,190 shares during the period. Finally, State Street Corp grew its holdings 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 period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $345.65, for a total value of $2,160,312.50. Following the transaction, the director now owns 811,842 shares in the company, valued at approximately $280,613,187.30. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Kurtz sold 18,071 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $359.70, for a total value of $6,500,138.70. Following the completion of the transaction, the chief executive officer now owns 2,159,935 shares in the company, valued at $776,928,619.50. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,315 shares of company stock worth $38,387,254 in the last 90 days. Company insiders own 4.34% of the company’s stock.

Analyst Upgrades and Downgrades

CRWD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $420.00 target price on shares of CrowdStrike in a report on Wednesday, March 5th. Morgan Stanley reissued an “overweight” rating on shares of CrowdStrike in a research report on Monday. CICC Research assumed coverage on shares of CrowdStrike in a report on Monday, November 18th. They issued a “market perform” rating and a $295.00 price target on the stock. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, Barclays lowered their target price on shares of CrowdStrike from $506.00 to $475.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $398.78.

CrowdStrike Price Performance

CRWD stock opened at $332.53 on Friday. The firm has a market capitalization of $81.91 billion, a PE ratio of 652.03, a P/E/G ratio of 17.86 and a beta of 1.19. CrowdStrike Holdings, Inc. has a one year low of $200.81 and a one year high of $455.59. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $385.81 and a two-hundred day moving average of $340.21.

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.