CrowdStrike Trimmed After Agentic AI Rally Lifted Its Valuation
Glass Lake Wealth Management said autonomous AI agents increase security demands, but it reduced its CrowdStrike position as valuation climbed.
Key takeaways
- Glass Lake trimmed CrowdStrike on Sept. 30 at about $265 per share.
- The firm cited a valuation of 166 times next fiscal year's expected earnings.
Glass Lake Wealth Management trimmed its CrowdStrike position on Sept. 30, selling shares at about $265 each, according to its third-quarter investor letter. The firm said it sees the cybersecurity company benefiting from the growth of agentic AI.
The letter said autonomous agents increase the number of machine identities, actions and attack paths that companies need to monitor and secure. It also said CrowdStrike’s rally had pushed its average weighting across client portfolios back to 5%.
Glass Lake cited a valuation of 166 times next fiscal year’s expected earnings as a reason to maintain sell discipline. It said most of the proceeds went toward increasing clients’ fixed-income allocations.
This article was produced with the help of AI technology. Source: Yahoo Finance
