Cathie Wood Doubled Her Stakes in These 5 Stocks in 2022

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

Number of Hedge Fund Holders: 74

Percentage Increase in Stake During Q1: 12,971%

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity services. At the end of the first quarter of 2022, the fund of Cathie Wood owned 124,043 shares of the company worth $28.1 million, representing 0.11% of the portfolio. The firm has been in the ARK portofolio, with minor exceptions, since the second quarter of 2020. Like other growth stocks, the share price of the company has tanked by close to one-fourth over the past twelve months on the back of inflation concerns. 

On April 18, Jefferies analyst Joseph Gallo initiated coverage of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock with a Buy rating and a price target of $275, noting the dominance of the firm in the cybersecurity space. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in CrowdStrike Holdings, Inc. (NASDAQ:CRWD), with 7.5 million shares worth more than $1.5 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was one of them. Here is what the fund said:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD) 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 Holdings, Inc. (NASDAQ:CRWD) is well positioned to compound at high growth rates for years given its unique product platform and attractive go-to-market business model.”

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