Meridian Wealth Management LLC Reduces Holdings in CrowdStrike $CRWD

Meridian Wealth Management LLC reduced its position in CrowdStrike (NASDAQ:CRWD) by 14.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,632 shares of the company’s stock after selling 2,381 shares during the period. Meridian Wealth Management LLC’s holdings in CrowdStrike were worth $6,685,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in CrowdStrike by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,430,572 shares of the company’s stock worth $11,933,425,000 after purchasing an additional 596,007 shares during the last quarter. State Street Corp grew its position in shares of CrowdStrike by 3.6% during the second quarter. State Street Corp now owns 10,804,651 shares of the company’s stock worth $5,502,917,000 after buying an additional 370,965 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CrowdStrike by 5.0% in the second quarter. Geode Capital Management LLC now owns 5,728,167 shares of the company’s stock worth $2,903,752,000 after buying an additional 273,922 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of CrowdStrike by 54,635.9% in the second quarter. Laurel Wealth Advisors LLC now owns 4,293,484 shares of the company’s stock worth $2,186,714,000 after buying an additional 4,285,640 shares during the last quarter. Finally, Norges Bank acquired a new stake in CrowdStrike in the second quarter valued at $1,638,365,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRWD. Berenberg Bank set a $600.00 target price on shares of CrowdStrike and gave the stock a “buy” rating in a research report on Friday, January 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $500.00 price target on shares of CrowdStrike in a research note on Wednesday, December 3rd. HSBC upped their price objective on CrowdStrike from $417.00 to $446.00 and gave the company a “hold” rating in a research note on Thursday, December 4th. Needham & Company LLC lifted their target price on CrowdStrike from $535.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, Evercore ISI boosted their price target on CrowdStrike from $430.00 to $460.00 and gave the company an “in-line” rating in a report on Wednesday, December 3rd. Thirty-one investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $555.21.

CrowdStrike Stock Performance

CRWD stock opened at $441.40 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $111.28 billion, a price-to-earnings ratio of -350.32, a PEG ratio of 108.84 and a beta of 1.03. CrowdStrike has a 1 year low of $298.00 and a 1 year high of $566.90. The stock’s fifty day moving average is $480.04 and its two-hundred day moving average is $477.32.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, research analysts predict that CrowdStrike will post 0.55 EPS for the current year.

Insider Buying and Selling

In other news, CFO Burt W. Podbere sold 10,516 shares of CrowdStrike stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $483.33, for a total transaction of $5,082,698.28. Following the sale, the chief financial officer owned 179,114 shares of the company’s stock, valued at approximately $86,571,169.62. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael Sentonas sold 11,461 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total value of $5,498,758.58. Following the transaction, the president owned 342,655 shares of the company’s stock, valued at approximately $164,399,015.90. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,048 shares of company stock valued at $34,509,857 in the last ninety days. Insiders own 3.32% of the company’s stock.

About CrowdStrike

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.