CrowdStrike (NASDAQ:CRWD) Shares Up 1.1% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares shot up 1.1% during mid-day trading on Friday . The stock traded as high as $319.09 and last traded at $318.37. 1,256,888 shares were traded during trading, a decline of 76% from the average session volume of 5,229,510 shares. The stock had previously closed at $314.92.

Wall Street Analyst Weigh In

CRWD has been the subject of a number of research analyst reports. Oppenheimer reduced their price target on shares of CrowdStrike from $450.00 to $365.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Citigroup decreased their target price on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Wedbush restated an “outperform” rating and issued a $315.00 price target on shares of CrowdStrike in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on CrowdStrike from $350.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Hsbc Global Res raised CrowdStrike from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.44.

CrowdStrike Trading Up 1.7 %

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 firm has a market cap of $78.49 billion, a P/E ratio of 464.07, a P/E/G ratio of 19.94 and a beta of 1.10. The stock has a 50 day simple moving average of $268.78 and a 200-day simple moving average of $308.72.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results 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 company had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. CrowdStrike’s revenue was up 31.7% on a year-over-year basis. On average, equities research analysts expect that CrowdStrike Holdings, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the transaction, the insider now owns 183,091 shares of the company’s stock, valued at approximately $67,985,350.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $371.32, for a total value of $1,485,280.00. Following the transaction, the insider now directly owns 183,091 shares in the company, valued at $67,985,350.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anurag Saha sold 1,683 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 $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,962 shares of company stock valued at $28,774,798. 4.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CrowdStrike by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after acquiring an additional 315,280 shares in the last quarter. Legal & General Group Plc increased its holdings in CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after buying an additional 60,607 shares during the period. Ameriprise Financial Inc. increased its holdings in CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock valued at $696,471,000 after buying an additional 77,100 shares during the period. Bank of New York Mellon Corp raised 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 worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in CrowdStrike by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,112,272 shares of the company’s stock worth $426,212,000 after buying an additional 9,564 shares during the period. 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.