CrowdStrike (NASDAQ:CRWD) Trading Up 1.6% on Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares shot up 1.6% during trading on Monday after Truist Financial raised their price target on the stock from $325.00 to $375.00. Truist Financial currently has a buy rating on the stock. CrowdStrike traded as high as $342.74 and last traded at $342.02. 549,091 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,004,037 shares. The stock had previously closed at $336.75.

Several other equities research analysts have also commented on CRWD. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price target on shares of CrowdStrike in a report on Monday, September 30th. BTIG Research lowered shares of CrowdStrike from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Guggenheim cut CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Oppenheimer lowered their price target on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays increased their price objective on CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $331.90.

Insider Activity at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the sale, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. This represents a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurtz sold 55,325 shares of CrowdStrike stock in a transaction dated 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 transaction, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,248 shares of company stock worth $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after buying an additional 1,013,161 shares in the last quarter. International Assets Investment Management LLC lifted its stake in CrowdStrike by 17,926.3% during the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after purchasing an additional 920,695 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock valued at $212,021,000 after purchasing an additional 712,900 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CrowdStrike by 47.5% in the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after purchasing an additional 564,662 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after purchasing an additional 371,695 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

CrowdStrike Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50-day moving average price is $301.83 and its two-hundred day moving average price is $310.94. The firm has a market cap of $86.60 billion, a PE ratio of 512.01, a P/E/G ratio of 22.77 and a beta of 1.10.

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

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.