ClearBridge Investments: “CrowdStrike (CRWD) Continues to Execute Well”

ClearBridge Investments, an investment management firm, published its “Aggressive Growth Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Aggressive Growth Strategy outperformed its Russell 3000 Growth Index benchmark in the second quarter. On an absolute basis, the Strategy had losses across the eight sectors in which it was invested (out of 11 sectors total). The primary detractors were in the IT and communication services sectors. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Aggressive Growth Strategy mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and explained its insights for the company. Founded in 20211, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is an Austin, Texas-based cybersecurity technology company with a $45.3 billion market capitalization. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivered a -4.61% return since the beginning of the year, while its 12-month returns are down by -26.07%. The stock closed at $195.32 per share on August 03, 2022.

Here is what ClearBridge Aggressive Growth Strategy has to say about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 2022 investor letter:

“The severity of the current selloff, exacerbated by extreme negative investor sentiment, especially toward growth stocks, has compressed the multiples of a number of portfolio companies despite strong fundamentals and led us to add to several existing positions. One example is cybersecurity software provider, CrowdStrike (NASDAQ:CRWD), which continues to execute well against a robust demand environment for its endpoint security solutions with quarterly results and forward guidance outperforming expectations.”

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Our calculations show that CrowdStrike Holdings, Inc. (NASDAQ:CRWD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was in 80 hedge fund portfolios at the end of the second quarter of 2022, compared to 74 funds in the previous quarter. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivered a -2.53% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.

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