Franklin Resources Inc. Sells 588,146 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Franklin Resources Inc. reduced its stake in shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 36.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,925 shares of the company’s stock after selling 588,146 shares during the period. Franklin Resources Inc. owned 0.41% of CrowdStrike worth $313,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Abich Financial Wealth Management LLC acquired a new stake in CrowdStrike in the 2nd quarter worth approximately $25,000. Oakworth Capital Inc. bought a new position in shares of CrowdStrike in the third quarter valued at approximately $28,000. Tsfg LLC lifted its stake in shares of CrowdStrike by 593.3% in the third quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after buying an additional 89 shares during the last quarter. Family Firm Inc. bought a new stake in shares of CrowdStrike during the 2nd quarter worth $30,000. Finally, Castleview Partners LLC acquired a new position in CrowdStrike in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

Insiders Place Their Bets

In related news, CEO George Kurtz sold 55,325 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now directly owns 1,109,746 shares in the company, valued at $329,172,858.52. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following 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. Over the last three months, insiders sold 144,498 shares of company stock valued at $45,116,385. Insiders own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein decreased their target price on CrowdStrike from $334.00 to $327.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. KeyCorp lifted their price target on CrowdStrike from $345.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wedbush set a $330.00 price objective on CrowdStrike in a research report on Thursday, October 17th. Finally, HSBC lowered shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price on the stock. in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, CrowdStrike has an average rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Stock Performance

CrowdStrike stock opened at $368.02 on Friday. CrowdStrike Holdings, Inc. has a 12-month low of $200.81 and a 12-month high of $398.33. The stock has a 50-day simple moving average of $330.62 and a 200 day simple moving average of $313.95. 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 stock has a market capitalization of $90.65 billion, a price-to-earnings ratio of 721.61, a P/E/G ratio of 19.48 and a beta of 1.11.

CrowdStrike Company 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.