CrowdStrike (NASDAQ:CRWD) Stock Price Up 3.7% – Here’s What Happened

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s stock price shot up 3.7% during trading on Wednesday . The stock traded as high as $324.61 and last traded at $318.82. 1,426,369 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 5,064,241 shares. The stock had previously closed at $307.58.

Analysts Set New Price Targets

Several analysts have weighed in on CRWD shares. JPMorgan Chase & Co. decreased their price objective on shares of CrowdStrike from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Argus cut their target price on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. JMP Securities restated a “market outperform” rating and issued a $400.00 price target on shares of CrowdStrike in a research report on Monday. Scotiabank decreased their price objective on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Finally, HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and boosted their target price for the company from $302.00 to $339.00 in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.74.

CrowdStrike Stock Performance

The company has a 50 day simple moving average of $287.38 and a 200 day simple moving average of $308.22. The stock has a market cap of $78.44 billion, a price-to-earnings ratio of 463.77, a P/E/G ratio of 20.50 and a beta of 1.10. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current year.

Insider Activity at CrowdStrike

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

Institutional Investors Weigh In On CrowdStrike

Several large investors have recently made changes to their positions in the business. LJI Wealth Management LLC increased its stake in shares of CrowdStrike by 55.4% during the 3rd quarter. LJI Wealth Management LLC now owns 954 shares of the company’s stock worth $268,000 after purchasing an additional 340 shares during the last quarter. Paragon Advisors LLC grew its holdings in CrowdStrike by 3.7% during the third quarter. Paragon Advisors LLC now owns 8,098 shares of the company’s stock valued at $2,271,000 after purchasing an additional 288 shares during the period. Natixis Advisors LLC increased its position in CrowdStrike by 12.4% in the third quarter. Natixis Advisors LLC now owns 39,798 shares of the company’s stock worth $11,162,000 after buying an additional 4,382 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of CrowdStrike by 58.4% in the third quarter. Mizuho Securities USA LLC now owns 28,179 shares of the company’s stock valued at $7,903,000 after buying an additional 10,392 shares during the period. Finally, Mizuho Markets Cayman LP purchased a new position in shares of CrowdStrike during the 3rd quarter valued at $490,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Company Profile

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.