5 Stocks to Sell Now According to Billionaire Ken Fisher

1. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Number of Hedge Fund Holders: 77

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a Texas-based cybersecurity company. In the second quarter of 2022, 77 hedge funds held a position in the company, with a combined stake value of $4.1 billion, compared to 80 hedge funds with combined stakes worth $5.56 billion in the previous quarter.

On August 17, Stifel analyst Brad Reback maintained a Buy rating on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and raised the price target to $220 from $205. Reback raised his price target owing to a survey he conducted which revealed that customers were highly satisfied with CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and are likely to increase their spending in the future.

Fisher Asset Management sold off its entire CrowdStrike Holdings, Inc. (NASDAQ:CRWD) position in the second quarter of 2022. In the previous quarter, the firm owned 903 shares of the company, valued at $205,000.

Here is what ClearBridge Investments had 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.”

You can also check out the 10 Stocks That Billionaire Rob Citrone Is Selling and 10 Stocks Analysts Are Downgrading After Weak Earnings Reports.

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