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

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw unusually-strong 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.

Other equities research analysts have also recently issued research reports about the company. UBS Group dropped their price target on CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BNP Paribas started coverage on CrowdStrike in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price target on the stock. DA Davidson restated a “buy” rating and issued a $310.00 price target on shares of CrowdStrike in a research note on Wednesday, September 18th. Truist Financial increased their price target on CrowdStrike from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, TD Cowen dropped their price target on CrowdStrike from $400.00 to $380.00 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.05.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated 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 owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Sentonas sold 10,776 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the transaction, the president now directly owns 400,390 shares in the company, 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. In the last ninety days, insiders sold 108,248 shares of company stock worth $32,465,110. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds have recently bought and sold shares of CRWD. Arlington Financial Advisors LLC lifted its stake in shares of CrowdStrike by 1.5% in the second quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock valued at $778,000 after buying an additional 30 shares in the last quarter. Synergy Financial Group LTD raised its holdings in shares of CrowdStrike by 0.8% in the 3rd 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 last quarter. Sunpointe LLC lifted its position in 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 acquiring an additional 34 shares in the last quarter. Hilltop Holdings Inc. boosted 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 last quarter. Finally, Means Investment CO. Inc. increased its holdings in CrowdStrike by 1.8% during the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock worth $741,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Trading Down 5.3 %

The stock has a market capitalization of $84.61 billion, a PE ratio of 527.97, a P/E/G ratio of 26.33 and a beta of 1.10. 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 firm has a 50 day moving average price of $311.86 and a 200 day moving average price of $312.52.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $963.87 million for 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 business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. Equities analysts expect 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.