CrowdStrike (NASDAQ:CRWD) Trading Up 0.7% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) rose 0.7% on Thursday . The stock traded as high as $311.40 and last traded at $308.53. Approximately 979,087 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 5,201,598 shares. The stock had previously closed at $306.24.

Analyst Ratings Changes

A number of research analysts have issued reports on CRWD shares. The Goldman Sachs Group reduced their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Robert W. Baird reduced their price target on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $325.00 price objective on shares of CrowdStrike in a report on Wednesday, August 28th. Needham & Company LLC initiated coverage on CrowdStrike in a report on Monday, September 23rd. They set a “buy” rating and a $360.00 target price on the stock. Finally, TD Cowen lowered their target price on CrowdStrike from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.44.

CrowdStrike Stock Performance

The business’s fifty day moving average is $273.47 and its 200-day moving average is $308.41. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $75.34 billion, a PE ratio of 582.13, a P/E/G ratio of 19.94 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, research analysts predict that CrowdStrike Holdings, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In related news, President Michael Sentonas sold 10,776 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $3,203,489.28. Following the completion of the sale, the president now directly owns 400,390 shares of the company’s stock, valued at approximately $119,027,939.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CrowdStrike news, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the transaction, the chief executive officer now directly owns 1,109,746 shares in the company, valued at $329,172,858.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael Sentonas sold 10,776 shares of CrowdStrike stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the sale, the president now owns 400,390 shares in the company, valued at approximately $119,027,939.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,212 shares of company stock valued at $30,529,413 in the last ninety days. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds have recently bought and sold shares of the stock. Integrated Advisors Network LLC bought a new position in CrowdStrike during the fourth quarter valued at approximately $431,000. American International Group Inc. grew its holdings in shares of CrowdStrike by 1.9% in the fourth quarter. American International Group Inc. now owns 19,431 shares of the company’s stock valued at $4,961,000 after purchasing an additional 369 shares in the last quarter. Wellington Management Group LLP increased its position in CrowdStrike by 5,452.5% in the fourth quarter. Wellington Management Group LLP now owns 144,532 shares of the company’s stock worth $36,902,000 after purchasing an additional 141,929 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in CrowdStrike during the fourth quarter valued at $464,000. Finally, SageView Advisory Group LLC purchased a new position in shares of CrowdStrike in the 4th quarter worth $349,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.