CrowdStrike Holdings (CRWD) Stock Rallied 53% on Solid Q3 Results

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q4 2023 investor letter. Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) offers cybersecurity products and services to stop breaches. On March 28, 2024, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $320.59 per share. One-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was -1.10%, and its shares gained 143.39% of their value over the last 52 weeks. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a market capitalization of $77.541 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its fourth quarter 2023 investor letter:

“Across the Information Technology universe, we seek companies possessing differentiated capabilities, products, and services. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-delivered protection across endpoints and cloud workloads. Their stock rallied 53% on the heels of solid fiscal third quarter results, with net new annualized recurring revenues accelerating sequentially.”

Security personnel at their consoles, monitoring a global network of threats in real-time.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was held by 62 hedge fund portfolios, up from 69 in the previous quarter, according to our database.

We discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article and shared Carillon Scout Mid Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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