CrowdStrike Holdings (CRWD) Stock Fell 36% in Q4

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 returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the Q4 2022 investor letter. Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cloud-delivered protection provider. On March 30, 2023, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $131.72 per share. One-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was 4.51%, and its shares lost 42.19% of their value over the last 52 weeks. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a market capitalization of $31.068 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q4 2022 investor letter:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cybersecurity products and services to stop network breaches. Its stock sold off by -36% on the heels of a mixed third quarter with macroeconomic headwinds causing management to lower forward guidance.”

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of the fourth quarter which was 85 in the previous quarter.

We discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article and shared the list of best cybersecurity stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 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.