What happened

Shares of cybersecurity operator CrowdStrike (NASDAQ:CRWD) are up a solid 4.8% in 1:50 p.m. EST trading Tuesday, apparently buoyed by a report on TheFly.com advising that hedge fund Tiger Global Management has just increased the size of its stake in the company.

So what

Last night, after close of trading, the hedge fund run by ace investor Chase Coleman filed its Form 13F-HR with the SEC, advising that as of the close of the quarter ending Sept. 30, it owns 7.5 million shares of CrowdStrike, valued in excess of $1 billion. Three months ago, Tiger Global had reported owning only a bit more than 5 million shares worth at about half a billion dollars. So it seems Tiger has grown its stake in the company by roughly 50% -- and the value of its investment by roughly 100%! 

Tiger in a jungle

Image source: Getty Images.

Now what

This sure makes Tiger Global seem like a pretty savvy investor -- and CrowdStrike stock a pretty savvy investment. It's no wonder investors are excited and clamoring to follow in Tiger's footprints today.

Before you do that, though, just be aware -- these kinds of SEC filings tell you what was true 1 1/2 months ago. There's no guarantee that Tiger still owns this many shares today -- or that the investment that has served it so well so far will do the same for you tomorrow.

In fact, with CrowdStrike stock selling for a nosebleed 555 times forward earnings today, you might find it's actually pretty dangerous to follow this particular Tiger.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.