Truist Financial Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price objective upped by investment analysts at Truist Financial from $375.00 to $385.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 6.65% from the company’s current price.

A number of other equities analysts also recently weighed in on CRWD. Oppenheimer boosted their target price on CrowdStrike from $365.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price objective on shares of CrowdStrike in a research note on Monday, September 30th. JMP Securities reissued a “market outperform” rating and issued a $400.00 price target on shares of CrowdStrike in a report on Monday, November 4th. Hsbc Global Res downgraded shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Susquehanna lifted their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus target price of $365.88.

CrowdStrike Stock Down 1.5 %

Shares of CRWD traded down $5.37 during trading hours on Tuesday, reaching $360.99. 915,321 shares of the stock traded hands, compared to its average volume of 2,277,392. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $398.33. The company has a market cap of $88.92 billion, a price-to-earnings ratio of 707.84, a PEG ratio of 19.48 and a beta of 1.14. The stock has a fifty day simple moving average of $348.02 and a 200 day simple moving average of $313.73. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling at CrowdStrike

In other news, CEO George Kurtz sold 18,071 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $359.70, for a total transaction of $6,500,138.70. Following the completion of the sale, the chief executive officer now directly owns 2,159,935 shares in the company, valued at approximately $776,928,619.50. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Anurag Saha sold 1,863 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.46, for a total value of $667,810.98. Following the transaction, the chief accounting officer now owns 41,059 shares in the company, valued at approximately $14,718,009.14. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,601 shares of company stock worth $40,755,368. 4.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CrowdStrike

A number of large investors have recently made changes to their positions in CRWD. Jennison Associates LLC lifted its stake in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after acquiring an additional 1,013,161 shares during the period. International Assets Investment Management LLC lifted its position in shares of CrowdStrike by 17,926.3% in the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after purchasing an additional 920,695 shares during the period. Daiwa Securities Group Inc. boosted its stake 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 purchasing an additional 712,900 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after buying an additional 371,695 shares during the period. Finally, State Street Corp raised its stake in CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after buying an additional 275,717 shares in the last quarter. 71.16% of the stock is currently owned by 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.