Baron Funds: “CrowdStrike (CRWD) is Well Positioned to Compound at High Growth Rates for Years”

Baron Funds, an asset management firm, published its “Baron Global Advantage Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Global Advantage Fund (the “Fund”) declined 22.8% (Institutional Shares), during the first quarter, compared to the 5.4% loss for the MSCI ACWI Index (the “Index”), and the 9.7% loss for the MSCI ACWI Growth Index, the Fund’s benchmarks. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Global Advantage Fund mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and explained its insights for the company. Founded in 2011, CrowdStrike Holdings, Inc. (NASDAQ:CRWD)  is an Austin, Texas-based cloud-native cybersecurity platform with a $46.9 billion market capitalization. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)  delivered a -0.54% return since the beginning of the year, while its 12-month returns are up by 2.96%. The stock closed at $203.65 per share on May 02, 2022.

Here is what Baron Global Advantage Fund has to say about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q1 2022 investor letter:

“CrowdStrike, Inc. provides cloud-delivered, next generation security solutions via its Falcon platform consisting of end-point protection, advanced persistent threat, security information, event management, and cloud workload protection. Shares rose 11% in the first quarter, on the back of impressive quarterly results with net new annual recurring revenue (ARR) accelerating for the second straight quarter to 52% year-over-year and the company’s favorable unit economics driving 30% free cash flow margins. Moreover, key new disclosures highlight how non-end-point products are seeing momentum with cloud product-generated ARR surpassing $100 million, representing 8% of net new ARR in the quarter. With more workloads migrating to or starting in the cloud, we believe CrowdStrike is well positioned to compound at high growth rates for years given its unique product platform and attractive go-to-market business model.”

alphaspirit/Shutterstock.com

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 74 hedge fund portfolios at the end of the fourth quarter of 2021. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivered an 11.80% return in the past 3 months.

In April 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 Q1 page.

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