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

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw unusually-high 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. Approximately 1,892,382 shares traded hands during 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.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group dropped their price target on CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Sanford C. Bernstein cut their target price on shares of CrowdStrike from $334.00 to $327.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group lifted their target price on CrowdStrike from $315.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and an average target price of $355.80.

Insider Activity

In other news, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Sentonas sold 10,776 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 $3,203,489.28. Following the completion of the transaction, the president now owns 400,390 shares of the company’s stock, valued at $119,027,939.20. This trade represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,248 shares of company stock worth $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

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

CrowdStrike Stock Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $313.47 and its two-hundred day simple moving average is $312.77. The firm 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 issued 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. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same period last year, the company posted $0.06 EPS. CrowdStrike’s quarterly revenue was up 31.7% compared to the same quarter last year. As a group, sell-side analysts expect that CrowdStrike Holdings, Inc. will post 0.49 earnings per share 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.