TimesSquare Capital Management, an equity investment management company, released its “U.S. FOCUS Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -2.04% (gross) and -2.29% (net) compared to -5.22% for the Russell Midcap Growth Index. This quarter’s best-performing small-to-mid-cap growth stocks have lower betas or higher returns on equity. Those with exorbitant prices (as measured by price/earnings) or a lack of near-term earnings fell out of favor. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. FOCUS Growth Strategy highlighted stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the third quarter 2023 investor letter. Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) offers cybersecurity products and services to stop breaches. On December 22, 2023, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $255.63 per share. One-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was 21.35%, and its shares gained 150.64% of their value over the last 52 weeks. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a market capitalization of $61.794 billion.
TimesSquare Capital U.S. FOCUS Growth Strategy made the following comment about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q3 2023 investor letter:
“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a provider of cloud-delivered protection across endpoints and cloud workloads, surged ahead by 14%. They reported a very solid fiscal second quarter that was driven by increased demand for CrowdStrike’s cloud, identity, and next generation Security Information and Event Management (SIEM) products. Guidance was raised for the full year based on a strong pipeline, sales execution, and platform demand.”
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. As per our database, 69 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of third quarter which was 65 in the previous quarter.
We discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article and shared the list of high growth large-cap stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.