BTIG Research Upgrades CrowdStrike (NASDAQ:CRWD) to Buy

CrowdStrike (NASDAQ:CRWD) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports. The brokerage presently has a $431.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 16.04% from the stock’s current price.

A number of other brokerages have also issued reports on CRWD. Stifel Nicolaus lowered their target price on shares of CrowdStrike from $475.00 to $435.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and issued a $450.00 price objective on shares of CrowdStrike in a research report on Wednesday, March 5th. KeyCorp dropped their target price on shares of CrowdStrike from $480.00 to $450.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Finally, Oppenheimer increased their price objective on CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $400.26.

CrowdStrike Price Performance

Shares of CRWD stock opened at $371.41 on Tuesday. The stock has a 50 day moving average price of $388.08 and a 200 day moving average price of $347.22. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $455.59. 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 $92.06 billion, a P/E ratio of 728.27, a P/E/G ratio of 17.86 and a beta of 1.19.

Insider Transactions at CrowdStrike

In other news, CEO George Kurtz sold 22,449 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $358.68, for a total value of $8,052,007.32. Following the completion of the transaction, the chief executive officer now directly owns 2,178,452 shares in the company, valued at $781,367,163.36. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $280,613,187.30. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,801 shares of company stock worth $42,092,255. Company insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRWD. Kingsview Wealth Management LLC raised its stake in shares of CrowdStrike by 9.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,146 shares of the company’s stock valued at $2,285,000 after buying an additional 684 shares during the last quarter. Fisher Asset Management LLC grew its holdings in CrowdStrike by 17.9% during the third quarter. Fisher Asset Management LLC now owns 2,230 shares of the company’s stock worth $626,000 after acquiring an additional 339 shares during the period. Boston Family Office LLC raised its position in CrowdStrike by 64.7% during the third quarter. Boston Family Office LLC now owns 2,278 shares of the company’s stock valued at $639,000 after acquiring an additional 895 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in CrowdStrike by 101.6% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the company’s stock valued at $71,000 after acquiring an additional 128 shares during the period. Finally, Truvestments Capital LLC boosted its position in CrowdStrike by 18.1% in the 3rd quarter. Truvestments Capital LLC now owns 926 shares of the company’s stock worth $260,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.