CrowdStrike (NASDAQ:CRWD) Trading 1.1% Higher Following Analyst Upgrade

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shot up 1.1% on Wednesday after KeyCorp raised their price target on the stock from $380.00 to $440.00. KeyCorp currently has an overweight rating on the stock. CrowdStrike traded as high as $389.40 and last traded at $389.13. 562,630 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,147,270 shares. The stock had previously closed at $385.05.

CRWD has been the topic of several other research reports. Barclays raised their price objective on CrowdStrike from $340.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. BMO Capital Markets lowered their price objective on CrowdStrike from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price objective on CrowdStrike from $371.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Robert W. Baird lifted their price objective on CrowdStrike from $281.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $420.00 price objective on shares of CrowdStrike in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $382.35.

Insider Activity at CrowdStrike

In related news, President Michael Sentonas sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $4,086,063.05. Following the transaction, the president now owns 411,166 shares in the company, valued at $156,502,114.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Michael Sentonas sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $4,086,063.05. Following the transaction, the president now owns 411,166 shares in the company, valued at $156,502,114.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the transaction, the chief executive officer now owns 1,146,048 shares in the company, valued at approximately $348,868,471.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,675 shares of company stock worth $76,681,402. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of CrowdStrike by 2.0% in the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock worth $5,149,124,000 after purchasing an additional 315,280 shares during the period. Jennison Associates LLC grew its position in CrowdStrike by 33.2% in the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock worth $1,618,938,000 after acquiring an additional 1,581,796 shares in the last quarter. Morgan Stanley grew its position in CrowdStrike by 124.4% in the third quarter. Morgan Stanley now owns 4,973,809 shares of the company’s stock worth $832,516,000 after acquiring an additional 2,757,251 shares in the last quarter. Norges Bank purchased a new position in CrowdStrike in the fourth quarter worth $683,336,000. Finally, First Trust Advisors LP grew its position in CrowdStrike by 19.3% in the fourth quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock worth $565,461,000 after acquiring an additional 358,945 shares in the last quarter. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

The firm’s 50-day moving average is $345.31 and its 200-day moving average is $316.23. The company has a market capitalization of $94.61 billion, a PE ratio of 734.22, a price-to-earnings-growth ratio of 19.31 and a beta of 1.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. The business had revenue of $921.04 million for the quarter, compared to analysts’ expectations of $904.82 million. Equities analysts predict that CrowdStrike Holdings, Inc. will post 0.9 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.