Ed Lin
An Alphabet unit has slashed its position in cybersecurity firm CrowdStrike Holdings.
CapitalG, Alphabet's independent growth fund, sold 353,665 CrowdStrike shares in the first quarter, bringing its investment to 74,230 shares, according to a form that Alphabet filed with the Securities and Exchange Commission late Thursday.
CapitalG had owned 427,895 shares at the end of 2024. Alphabet didn't immediately respond to a request for comment.
CrowdStrike, a cybersecurity company, had an outage last July that paralyzed millions of personal computers worldwide. The cause was a bug in a quality-control tool the company uses that allowed a critical flaw to be pushed to devices running Microsoft Windows.
The stock cratered, but recovered enough over to end 2024 with a 34% gain, topping the S&P 500's 23% rise.
In 2025's first quarter, shares gained 3%, compared with a 4.5% drop in the S&P 500. But the stock gave up some gains to end the quarter; at one point in February, the stock set a record of $455.59 -- up 33% from the end of 2024.
It isn't clear when CapitalG was selling CrowdStrike shares because big investors are only required to disclose quarter-end positions. Entities that manage more than $100 million of publicly traded securities are required to file quarterly updates with the SEC.
CapitalG initially invested in CrowdStrike in 2015, and CrowdStrike went public in 2019. CapitalG last sold CrowdStrike stock not long before last year's outage. CapitalG halved its CrowdStrike stake to 427,895 shares in the second quarter of 2024 from 855,789 shares held at the end of March 2024.
Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at ed.lin@barrons.com
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May 02, 2025 11:33 ET (15:33 GMT)
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