CrowdStrike (NASDAQ:CRWD) Sees Large Volume Increase on Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw an uptick in trading volume on Wednesday after Wells Fargo & Company raised their price target on the stock from $350.00 to $400.00. Wells Fargo & Company currently has an overweight rating on the stock. 1,892,382 shares traded hands during mid-day trading, a decline of 62% from the previous session’s volume of 4,975,384 shares.The stock last traded at $348.91 and had previously closed at $364.30.

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities lifted their price target on shares of CrowdStrike from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Monday. Barclays boosted their price objective on CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Piper Sandler boosted their price target on shares of CrowdStrike from $290.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America raised their price objective on shares of CrowdStrike from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group cut their target price on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $355.80.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the sale, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the sale, the insider now owns 174,591 shares in the company, valued at approximately $45,521,111.43. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,248 shares of company stock valued at $32,465,110. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tri Ri Asset Management Corp purchased a new position in shares of CrowdStrike during the third quarter valued at approximately $5,456,000. Peapack Gladstone Financial Corp purchased a new stake in shares of CrowdStrike in the third quarter valued at $497,000. Tidal Investments LLC increased its stake in CrowdStrike by 7.5% in the third quarter. Tidal Investments LLC now owns 24,813 shares of the company’s stock valued at $6,959,000 after purchasing an additional 1,740 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CrowdStrike during the third quarter worth about $1,319,000. Finally, World Investment Advisors LLC grew its holdings in CrowdStrike by 24.7% in the 3rd quarter. World Investment Advisors LLC now owns 2,514 shares of the company’s stock valued at $705,000 after buying an additional 498 shares during the period. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The stock’s 50 day moving average price is $313.47 and its 200 day moving average price is $312.77. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a P/E/G ratio of 26.33 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 company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. CrowdStrike’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. On average, analysts expect that CrowdStrike Holdings, Inc. will post 0.49 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.