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

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw unusually-high trading volume on Wednesday after BMO Capital Markets raised their price target on the stock from $315.00 to $380.00. BMO Capital Markets currently has an outperform rating on the stock. Approximately 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.

CRWD has been the subject of several other research reports. Cantor Fitzgerald lifted their price objective on CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. DA Davidson reiterated a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a research note on Wednesday, September 18th. Needham & Company LLC boosted their price target on shares of CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank cut 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, Wedbush set a $330.00 price objective on shares of CrowdStrike in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.05.

Insider Activity

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated 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 $45,521,111.43. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 transaction, the chief accounting officer now directly owns 38,962 shares in the company, valued at $11,582,623.36. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,248 shares of company stock valued at $32,465,110 in the last 90 days. 4.34% of the stock is currently owned by insiders.

Institutional Trading of CrowdStrike

Several institutional investors and hedge funds have recently modified their holdings of CRWD. Arlington Financial Advisors LLC boosted its holdings in CrowdStrike by 1.5% in the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after buying an additional 30 shares during the period. Synergy Financial Group LTD boosted its stake in shares of CrowdStrike by 0.8% in the third quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock worth $1,108,000 after acquiring an additional 30 shares during the period. Sunpointe LLC grew its position in shares of CrowdStrike by 3.1% during the third quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock worth $317,000 after purchasing an additional 34 shares in the last quarter. Hilltop Holdings Inc. raised its stake in CrowdStrike by 1.8% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock valued at $542,000 after purchasing an additional 34 shares during the period. Finally, Means Investment CO. Inc. lifted its holdings in shares of CrowdStrike by 1.8% in the second quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock worth $741,000 after buying an additional 35 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Stock Performance

The firm’s 50 day simple moving average is $311.86 and its 200 day simple moving average is $312.52. The firm has a market cap of $84.61 billion, a PE ratio of 527.97, a PEG ratio of 26.33 and a beta of 1.10. The company has a current ratio of 1.90, a quick 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 EPS 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 the consensus estimate of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 EPS. On average, research analysts forecast that CrowdStrike Holdings, Inc. will post 0.49 EPS for the current fiscal year.

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.