CrowdStrike (NASDAQ:CRWD) Trading Up 2.2% Following Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares rose 2.2% on Friday after Royal Bank of Canada raised their price target on the stock from $365.00 to $420.00. Royal Bank of Canada currently has an outperform rating on the stock. CrowdStrike traded as high as $359.69 and last traded at $354.99. Approximately 812,778 shares were traded during trading, a decline of 52% from the average daily volume of 1,707,970 shares. The stock had previously closed at $347.34.

CRWD has been the topic of several other reports. DA Davidson reaffirmed a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a report on Wednesday, September 18th. KeyCorp lifted their price objective on CrowdStrike from $345.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler increased their target price on CrowdStrike from $290.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley boosted their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus increased their price objective on shares of CrowdStrike from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.63.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $309.38, for a total value of $1,237,520.00. Following the completion of the sale, the insider now owns 124,298 shares of the company’s stock, valued at approximately $38,455,315.24. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the transaction, the director now owns 821,766 shares in the company, valued at approximately $263,277,391.08. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,601 shares of company stock worth $40,755,368 in the last three months. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds have recently modified their holdings of CRWD. Abich Financial Wealth Management LLC purchased a new stake in CrowdStrike during the 2nd quarter worth approximately $25,000. Oakworth Capital Inc. purchased a new position in shares of CrowdStrike during the 3rd quarter valued at approximately $28,000. Tsfg LLC lifted its stake in shares of CrowdStrike by 593.3% in the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. Castleview Partners LLC purchased a new position in CrowdStrike in the third quarter valued at $32,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of CrowdStrike in the second quarter worth about $33,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

CrowdStrike Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $88.43 billion, a PE ratio of 703.97, a price-to-earnings-growth ratio of 19.48 and a beta of 1.11. The firm’s 50 day moving average price is $346.72 and its 200-day moving average price is $314.90.

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.