CrowdStrike (NASDAQ:CRWD) Shares Up 4.2% – Here’s Why

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $392.69 and last traded at $388.29. 2,238,700 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 4,766,363 shares. The stock had previously closed at $372.64.

Wall Street Analyst Weigh In

CRWD has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on CrowdStrike from $418.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Raymond James downgraded CrowdStrike from an “outperform” rating to a “cautious” rating in a research note on Monday, March 10th. Wells Fargo & Company increased their price objective on shares of CrowdStrike from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial boosted their price objective on shares of CrowdStrike from $385.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Susquehanna boosted their price target on CrowdStrike from $400.00 to $425.00 and gave the company a “positive” rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $400.26.

CrowdStrike Price Performance

The company has a market capitalization of $89.42 billion, a price-to-earnings ratio of 715.69, a P/E/G ratio of 17.86 and a beta of 1.19. The company has a fifty day simple moving average of $388.08 and a two-hundred day simple moving average of $347.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86.

Insider Buying and Selling at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $345.65, for a total transaction of $2,160,312.50. Following the completion of the sale, the director now directly owns 811,842 shares of the company’s stock, valued at $280,613,187.30. The trade was a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $354.91, for a total value of $1,419,640.00. Following the completion of the transaction, the insider now directly owns 98,214 shares in the company, valued at $34,857,130.74. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,801 shares of company stock worth $42,092,255 in the last 90 days. 4.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in CrowdStrike during the 4th quarter worth $1,111,542,000. Pathstone Holdings LLC grew its position in shares of CrowdStrike by 379.0% in the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock worth $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. Raymond James Financial Inc. bought a new position in CrowdStrike during the fourth quarter worth $237,375,000. Voya Investment Management LLC boosted its holdings in CrowdStrike by 43.5% in the fourth quarter. Voya Investment Management LLC now owns 1,920,901 shares of the company’s stock worth $657,106,000 after purchasing an additional 582,471 shares during the period. Finally, Amundi increased its stake in CrowdStrike by 41.9% during the fourth quarter. Amundi now owns 1,382,952 shares of the company’s stock valued at $496,093,000 after purchasing an additional 408,190 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

About CrowdStrike

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.