CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Sees Large Drop in Short Interest

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 8,040,000 shares, a drop of 10.1% from the October 15th total of 8,940,000 shares. Based on an average daily volume of 4,120,000 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Second Line Capital LLC increased its stake in shares of CrowdStrike by 28.4% during the 3rd quarter. Second Line Capital LLC now owns 972 shares of the company’s stock worth $273,000 after purchasing an additional 215 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in CrowdStrike by 72.0% during the third quarter. Rehmann Capital Advisory Group now owns 2,162 shares of the company’s stock valued at $607,000 after buying an additional 905 shares during the period. Fortem Financial Group LLC lifted its position in CrowdStrike by 62.7% in the third quarter. Fortem Financial Group LLC now owns 1,627 shares of the company’s stock valued at $456,000 after purchasing an additional 627 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of CrowdStrike by 42.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,814 shares of the company’s stock worth $509,000 after buying an additional 540 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in CrowdStrike by 11.4% in the third quarter. Toronto Dominion Bank now owns 88,836 shares of the company’s stock worth $24,916,000 after buying an additional 9,114 shares in the last quarter. Institutional investors own 71.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRWD shares. KeyCorp boosted their target price on CrowdStrike from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. BNP Paribas started coverage on CrowdStrike in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price target for the company. Barclays boosted their price objective on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird cut their price objective on CrowdStrike from $335.00 to $315.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup cut their price objective on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $331.90.

CrowdStrike Trading Up 2.5 %

NASDAQ CRWD traded up $8.72 during mid-day trading on Tuesday, reaching $351.69. 1,900,038 shares of the stock were exchanged, compared to its average volume of 4,998,225. The stock has a 50 day simple moving average of $299.72 and a 200-day simple moving average of $310.63. CrowdStrike has a one year low of $200.81 and a one year high of $398.33. The stock has a market cap of $86.21 billion, a P/E ratio of 501.32, a P/E/G ratio of 22.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $958.27 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. On average, analysts anticipate that CrowdStrike will post 0.52 EPS for the current 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.