Suvretta Capital Management LLC Buys Shares of 122,155 CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC raised its position in CrowdStrike by 59.9% in the 1st quarter. Quent Capital LLC now owns 235 shares of the company’s stock worth $75,000 after buying an additional 88 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of CrowdStrike during the first quarter valued at approximately $218,000. Citizens Financial Group Inc. RI lifted its position in CrowdStrike by 6.0% during the first quarter. Citizens Financial Group Inc. RI now owns 831 shares of the company’s stock valued at $266,000 after purchasing an additional 47 shares during the period. Virtu Financial LLC purchased a new stake in CrowdStrike in the first quarter worth approximately $769,000. Finally, LRI Investments LLC bought a new stake in CrowdStrike in the 1st quarter worth approximately $147,000. 71.16% of the stock is owned by institutional investors.

CrowdStrike Stock Down 4.6 %

NASDAQ CRWD opened at $347.59 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike Holdings, Inc. has a 52 week low of $200.81 and a 52 week high of $398.33. The firm has a market capitalization of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. The company has a fifty day moving average of $314.88 and a two-hundred day moving average of $313.01.

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

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the completion of the sale, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. This trade represents a 4.14 % 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, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock valued at $32,465,110 over the last 90 days. Insiders own 4.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HSBC cut CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 price target on the stock. in a report on Wednesday. DA Davidson reissued a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a research report on Wednesday, September 18th. Oppenheimer upped their price target on shares of CrowdStrike from $365.00 to $410.00 and gave the company an “outperform” rating in a research report on Wednesday. CICC Research initiated coverage on shares of CrowdStrike in a report on Monday, November 18th. They issued a “market perform” rating and a $295.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of CrowdStrike from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

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.