Mezzasalma Advisors LLC Reduces Stock Position in CrowdStrike (NASDAQ:CRWD)

Mezzasalma Advisors LLC trimmed its holdings in CrowdStrike (NASDAQ:CRWD) by 2.3% in the first quarter, Holdings Channel reports. The institutional investor owned 7,129 shares of the company’s stock after selling 167 shares during the quarter. CrowdStrike accounts for approximately 0.9% of Mezzasalma Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Mezzasalma Advisors LLC’s holdings in CrowdStrike were worth $2,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Primoris Wealth Advisors LLC bought a new position in CrowdStrike in the 4th quarter valued at $2,166,000. OLD National Bancorp IN purchased a new position in CrowdStrike during the first quarter worth about $248,000. Arcadia Investment Management Corp MI boosted its position in shares of CrowdStrike by 30.8% during the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock valued at $4,090,000 after acquiring an additional 2,814 shares during the last quarter. Trifecta Capital Advisors LLC grew its holdings in shares of CrowdStrike by 2,140.3% during the fourth quarter. Trifecta Capital Advisors LLC now owns 8,961 shares of the company’s stock worth $3,066,000 after purchasing an additional 8,561 shares in the last quarter. Finally, Delta Financial Group Inc. purchased a new position in shares of CrowdStrike during the fourth quarter worth about $336,000. Institutional investors own 71.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRWD shares. Robert W. Baird dropped their target price on shares of CrowdStrike from $440.00 to $405.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Truist Financial reiterated a “buy” rating and issued a $500.00 target price (up from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Rosenblatt Securities increased their target price on CrowdStrike from $450.00 to $515.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Susquehanna lifted their price target on CrowdStrike from $425.00 to $530.00 and gave the stock a “positive” rating in a research note on Wednesday, June 4th. Finally, Scotiabank increased their price objective on CrowdStrike from $370.00 to $480.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $453.17.

Insider Activity at CrowdStrike

In other news, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the completion of the transaction, the chief accounting officer now directly owns 36,165 shares in the company, valued at approximately $12,969,492.30. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 5,096 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $358.43, for a total transaction of $1,826,559.28. Following the completion of the transaction, the insider now owns 84,618 shares in the company, valued at approximately $30,329,629.74. The trade was a 5.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,861 shares of company stock worth $109,595,558 over the last ninety days. 3.32% of the stock is owned by corporate insiders.

CrowdStrike Price Performance

CRWD stock opened at $492.03 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.85 and a quick ratio of 1.85. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $493.20. The firm has a 50-day moving average of $434.17 and a 200 day moving average of $394.15. The company has a market cap of $122.64 billion, a P/E ratio of -713.09 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. CrowdStrike had a positive return on equity of 0.43% and a negative net margin of 4.17%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current year.

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.