BofA update shows where active managers are putting money
SUNNYVALE, CA—CrowdStrike Holdings, Inc. (NASDAQ:CRWD), the cybersecurity giant with a market capitalization of $95.4 billion, saw its President and CEO George Kurtz report selling shares worth approximately $8.05 million, according to a recent SEC filing. The transactions, which took place on March 21, involved the sale of 22,449 shares of Class A common stock at prices ranging from $357.15 to $358.70 per share.
The sales were executed as part of a routine procedure to cover tax withholdings due on the vesting of restricted stock unit awards, in line with CrowdStrike’s administrative policies. Following these transactions, Kurtz retains direct ownership of 2,178,452 shares in the cybersecurity firm.
In addition to his direct holdings, Kurtz is indirectly associated with several trusts, including the Kurtz 2009 Spendthrift Trust, Allegra Kurtz Irrevocable Gift Trust, Alexander Kurtz Irrevocable Gift Trust, and Kurtz Family Dynasty Trust, which collectively hold additional shares of CrowdStrike.
CrowdStrike, headquartered in Sunnyvale, California, is a leading provider of cybersecurity solutions, specializing in protecting endpoints and cloud workloads. The company has demonstrated robust growth with revenue increasing 29.4% year-over-year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value. The company’s stock is actively traded on the NASDAQ under the ticker symbol CRWD, with shares surging 36.8% over the past six months.
In other recent news, CrowdStrike Holdings has announced the launch of a new Network Vulnerability Assessment feature within its Falcon Exposure Management suite. This development aims to modernize vulnerability management by integrating AI-driven risk prioritization directly into network devices. In addition, CrowdStrike’s Falcon platform has secured FedRAMP High Authorization, allowing U.S. federal agencies to use the platform to protect sensitive data against cyber threats. This authorization underscores the platform’s compliance with stringent security standards for handling unclassified government data.
Truist Securities recently maintained its Buy rating on CrowdStrike, with a price target of $460. The firm highlighted CrowdStrike’s expanding range of modules and the adoption of its Falcon Flex (NASDAQ:FLEX) offering as factors leading to larger contracts and vendor consolidation. Moreover, CrowdStrike has partnered with NVIDIA (NASDAQ:NVDA) to enhance its AI capabilities, reportedly doubling detection triage speed while reducing compute resources by half. This collaboration aims to improve cybersecurity threat detection and triage.
CrowdStrike has also entered into a distribution agreement with Arrow Electronics (NYSE:ARW) to expand its channel ecosystem across North America. This partnership is expected to provide Arrow’s channel partners with access to CrowdStrike’s advanced AI-native cybersecurity technology, further enhancing their security postures. These recent developments reflect CrowdStrike’s ongoing efforts to advance its cybersecurity solutions and expand its market reach.
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