Fifth Third Bancorp Increases Position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Fifth Third Bancorp increased its stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 53.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,241 shares of the company’s stock after acquiring an additional 23,632 shares during the period. Fifth Third Bancorp’s holdings in CrowdStrike were worth $24,060,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. raised its holdings in shares of CrowdStrike by 811.1% during the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 73 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of CrowdStrike in the 4th quarter valued at $34,000. Millstone Evans Group LLC purchased a new stake in shares of CrowdStrike in the 4th quarter valued at $34,000. ST Germain D J Co. Inc. boosted its stake in shares of CrowdStrike by 426.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 100 shares of the company’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Bellwether Advisors LLC purchased a new stake in shares of CrowdStrike in the 4th quarter valued at $37,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRWD. Needham & Company LLC upped their price objective on shares of CrowdStrike from $420.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Rosenblatt Securities lifted their price objective on CrowdStrike from $450.00 to $515.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Raymond James reiterated an “outperform” rating and issued a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Wells Fargo & Company increased their price objective on CrowdStrike from $430.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday, June 2nd. Finally, Piper Sandler increased their price objective on CrowdStrike from $400.00 to $505.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $453.17.

CrowdStrike Stock Performance

CrowdStrike stock opened at $481.73 on Friday. The stock’s 50 day moving average is $425.70 and its 200 day moving average is $391.11. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $119.41 billion, a P/E ratio of 944.59, a PEG ratio of 17.86 and a beta of 1.16. CrowdStrike Holdings, Inc. has a twelve month low of $200.81 and a twelve month high of $491.20.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. CrowdStrike’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. On average, equities research analysts predict that CrowdStrike Holdings, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, President Michael Sentonas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the sale, the president now owns 422,204 shares of the company’s stock, valued at $201,391,308. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Anurag Saha sold 1,496 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the sale, the chief accounting officer now directly owns 36,165 shares in the company, valued at approximately $12,969,492.30. The trade was a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,361 shares of company stock worth $106,359,058 over the last quarter. 3.32% of the stock is currently owned by insiders.

CrowdStrike Profile

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.