Principal Financial Group Inc. Sells 28,966 Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Principal Financial Group Inc. trimmed its stake in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) by 9.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 269,477 shares of the company’s stock after selling 28,966 shares during the quarter. Principal Financial Group Inc.’s holdings in CrowdStrike were worth $75,580,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Synergy Financial Group LTD raised its holdings in CrowdStrike by 0.8% in the third quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock worth $1,108,000 after purchasing an additional 30 shares in the last quarter. Sunpointe LLC raised its stake in shares of CrowdStrike by 3.1% during the 3rd quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock worth $317,000 after acquiring an additional 34 shares in the last quarter. Hilltop Holdings Inc. lifted its position in CrowdStrike by 1.8% during the third quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock valued at $542,000 after acquiring an additional 34 shares during the last quarter. Interchange Capital Partners LLC boosted its stake in CrowdStrike by 1.1% in the third quarter. Interchange Capital Partners LLC now owns 3,694 shares of the company’s stock valued at $1,036,000 after acquiring an additional 39 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in CrowdStrike by 9.1% in the third quarter. JFS Wealth Advisors LLC now owns 478 shares of the company’s stock worth $134,000 after purchasing an additional 40 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRWD. JMP Securities reissued a “market outperform” rating and issued a $400.00 price objective on shares of CrowdStrike in a research report on Monday, November 4th. Oppenheimer raised their price target on CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald increased their price objective on shares of CrowdStrike from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Bank of America boosted their target price on shares of CrowdStrike from $365.00 to $400.00 and gave the stock a “buy” rating 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.25.

Insider Activity

In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the transaction, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,498 shares of company stock worth $45,599,730 over the last 90 days. 4.34% of the stock is currently owned by company insiders.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $362.29 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a fifty day moving average of $336.89 and a 200 day moving average of $315.59. The firm has a market cap of $89.24 billion, a PE ratio of 710.39, a PEG ratio of 19.48 and a beta of 1.11. CrowdStrike Holdings, Inc. has a one year low of $200.81 and a one year high of $398.33.

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.