What impact did BlackRock's 33.26% share decrease by April 23, 2025, have on CRDO's institutional ownership?

BlackRock, Inc.'s 33.26% decrease in its CRDO shareholdings, reported via a 13G/A filing on April 23, 2025, significantly contributed to a reduction in the overall institutional ownership of Credo Technology Group Holding Ltd. This filing indicated BlackRock's position decreased from 17,028,355 shares to 11,365,226 shares, resulting in a 34.95% reduction in their reported ownership percentage to 6.70%.1

This move by a major institutional investor was not an isolated event during that period. Fintel data shows that other significant institutions also reduced their stakes in CRDO around the same time. For instance, JPMORGAN CHASE & CO filed a 13G/A on March 6, 2025, reporting a substantial 49.57% decrease in its shares held. Additionally, Cheng Chi Fung reported a 6.67% share decrease on April 21, 2025.1

The concurrent reductions by these prominent institutional holders suggest a broader trend of decreased institutional accumulation in CRDO during the first quarter of 2025 and into early Q2 2025. Collectively, these outflows from major institutions would have exerted downward pressure on the total institutional ownership percentage for Credo Technology Group Holding Ltd.