CrowdStrike (NASDAQ:CRWD) Shares Up 0.7% After Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shot up 0.7% during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $375.00 to $385.00. Truist Financial currently has a buy rating on the stock. CrowdStrike traded as high as $365.07 and last traded at $362.53. 719,861 shares were traded during trading, a decline of 69% from the average session volume of 2,315,588 shares. The stock had previously closed at $359.93.

Other research analysts have also issued research reports about the company. Wedbush set a $330.00 target price on CrowdStrike in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of CrowdStrike from $372.00 to $418.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird lifted their target price on shares of CrowdStrike from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Stifel Nicolaus boosted their price target on shares of CrowdStrike from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Rosenblatt Securities raised their price objective on shares of CrowdStrike from $325.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.88.

Insider Transactions at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $345.65, for a total value of $2,160,312.50. Following the completion of the sale, the director now owns 811,842 shares of the company’s stock, valued at $280,613,187.30. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerhard Watzinger sold 30,000 shares of CrowdStrike stock in a transaction on Friday, November 29th. The shares were sold at an average price of $348.93, for a total value of $10,467,900.00. Following the completion of the sale, the director now directly owns 42,391 shares of the company’s stock, valued at approximately $14,791,491.63. This represents a 41.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,351 shares of company stock valued at $38,752,993 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 CRWD. Abich Financial Wealth Management LLC purchased a new stake in shares of CrowdStrike in the second quarter valued at $25,000. Oakworth Capital Inc. purchased a new stake in CrowdStrike during the third quarter valued at about $28,000. Tsfg LLC grew its position in CrowdStrike by 593.3% during the third quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after acquiring an additional 89 shares during the period. Castleview Partners LLC purchased a new stake in CrowdStrike during the third quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in CrowdStrike during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Performance

The stock has a 50-day simple moving average of $351.26 and a 200-day simple moving average of $314.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a market cap of $88.36 billion, a PE ratio of 703.39, a P/E/G ratio of 19.48 and a beta of 1.14.

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.