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

Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw strong 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. 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 analysts also recently weighed in on CRWD. BMO Capital Markets lifted their target price on CrowdStrike from $315.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI lifted their price objective on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Monday. Argus dropped their target price on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Barclays lifted their price target on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, UBS Group dropped their price objective on CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.80.

Insider Transactions at CrowdStrike

In related news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the completion of the transaction, the chief accounting officer now directly owns 38,962 shares in the company, valued at $11,582,623.36. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Burt W. Podbere sold 11,178 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.47, for a total value of $3,325,119.66. Following the sale, the chief financial officer now directly owns 286,472 shares in the company, valued at $85,216,825.84. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock worth $32,465,110 over the last three months. 4.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of CrowdStrike by 17,926.3% during the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after acquiring an additional 920,695 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of CrowdStrike by 1,655.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock valued at $212,021,000 after acquiring an additional 712,900 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after purchasing an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in CrowdStrike by 248.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after purchasing an additional 371,695 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Stock Down 4.6 %

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 has a 50-day simple moving average of $314.88 and a 200-day simple moving average of $313.01. The company has a market cap of $85.20 billion, a PE ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping 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 company had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities research analysts anticipate that CrowdStrike Holdings, Inc. will post 0.49 EPS for the current year.

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.